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The head and shoulders top has broken out; if this pullback can't hold, the bears will accelerate.
Neckline lost
Retest in progress
Bears gaining control
If this retest gets rejected cleanly, short-term bearish momentum can accelerate fast.
Price is reacting exactly how a classic breakdown setup should after losing key structure.
Weak recovery attempts show buyers are struggling to regain control.
As long as the retest stays below the breakdown zone, downside pressure remains active.
This setup is looking ready for another leg down.