Phase C - supply failed to make lower low showing exhaustion; its a Spring#1. We are now in Phase D, with the last point of supply. Price at this point also showing respect to the diagonal channel, showing confluence with Wyckoff horizontal trading range structure. This will be a good point of entry for a long.
Major sign of weakness shown with the recent big drop, signalling trend change. Anticipate final leg up to around $100-105 before mark down to $88 and test there.
Looks distributive. Wyckoff schematic distribution 2. The last test for the high was weak and did not generate an UTAD. The current last point of supply (LPSY) would be an ideal place to short.