It seems that if the new high does not get broken we could see a strong retracement after hitting a previous strong bearish order block.
The push down from this order block should be enough to break through the smaller resistance lower down.
It looks as if there is enough momentum in the market to push upwards from a strong previous order block as resistance.
Stochastic looks like it is flipping upwards while the slow MACD is showing bullish signs.