I believe the market is currently forming a classic 1-2-3 pattern along the trendline. The price has already broken below the rising trendline, and the subsequent pullback failed to reclaim the previous high, which strengthens the bearish signal. If this structure continues to play out, the next step will likely be a clean break of the neckline, confirming a potential trend reversal. After the neckline is breached, the market may experience a short period of consolidation or a multi-day pullback before choosing its next direction.
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Failed neckline breakout. 
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.