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Inverse Cup & Handle has truly played out, and the bears' rhythm is on point. Once the support below PENGU breaks, it will be difficult to find a comfortable bullish position in the short term.
The Inverse Cup & Handle played out exactly as bears wanted.
Key support has been lost, sellers are gaining control, and momentum is shifting to the downside. Lower targets are now firmly in focus.
The structure looks weak and every bounce could be an opportunity for bears to add more pressure.
If this breakdown holds, the next move could be fast and aggressive.
PENGU looks ready for another leg down.