Title: Bearish Continuation

Type: Bearish reversal

Preference:

Price is expected to push down from the pivot level (in line with 23.6% Fibonacci retracement) towards the 1st Support level in line with 161.8% Fibonacci extension. Our bearish bias is further supported by the price holding below the Ichimoku cloud and 50 period MA.

Alternative scenatio:

Alternatively, price can bounce back uo towards the 1st resistance in line with 50% Fibonacci retracement and ascending channel resistance.