Probably the price is about to bounce back from the resistance area, completing a correction phase as it is completing an Elliott Wave correction phase.
A 1, 2, 3, 4, 5, a, b has Elliott wave has formed, waiting for c wave to be confirmed. A bearish flag pattern is about to confirm the c wave. After breaking the lower parallel line is the best time for taking a short position, and a retracement of the size 'a' is expected.
