4H Chart - Price Key Points:
- Pennant formation broke to the downside.
- First rejection at approx $8162.
- Continuation at approx $8118.
- Termination at approx $7657.
- Indicators reversed.
- Another leg down is possible.
Possible Scenarios:
Long: On a confirmed break above $7781 – Price Target $7961 | Probability: 34% | Signal Strength: 3/5
Neutral: Price Range $7615 - $7781
Short: On a confirmed break below $7615 – Price Target $7427 | Probability: 37% | Signal Strength: 4/5
Our Stance: Adding to the short side.