After the market pushed away from the upper bound of the yellow channel, we saw a decline in the price in the direction of the lower wall of this channel. Moreover, the price moved down in a very complex manner.
At the moment, the bears are close to the support level of 119.60. It is likely that in the near future the market will continue to move down to the specified price level. Then, when it is reached, the market will push off from this bound and start moving up towards the upper wall of the yellow channel.
In the event of a break below the 119.60 level, the bullish scenario will be postponed indefinitely, and the market will be dominated by bears. However, at the moment, it is difficult to guess what goals the bears may have.
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