There are many reasons. Brief description is time killing. So I'm giving you the summary. Find the reasons from the chart.
1. Weekly Triangle Resistance. (Purple)
2. Weekly Stoch-RSI "Over Bought"
3. Daily Triangle Resistance. (Lime-Green)
4. Daily Stoch-RSI "Over Bought".
5. "Bearish Bat" Harmonic Pattern. (Maroon)
6. Bearish "Head & Shoulders" Pattern. (Yellow)
7. 61.8% Fibonacci Retracement completed of most recent Daily down A-B boundary at confluence of resistance.
1. Weekly Triangle Resistance. (Purple)
2. Weekly Stoch-RSI "Over Bought"
3. Daily Triangle Resistance. (Lime-Green)
4. Daily Stoch-RSI "Over Bought".
5. "Bearish Bat" Harmonic Pattern. (Maroon)
6. Bearish "Head & Shoulders" Pattern. (Yellow)
7. 61.8% Fibonacci Retracement completed of most recent Daily down A-B boundary at confluence of resistance.
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