Fears that it will be hard for sellers to break through the local minimum turned out to be not unfounded. The price really began to bounce, as if hesitating to make an attempt to pass this line. This happens both before an immediate breakout and with a strong rebound. In our case, the probability of the first option is still higher.

This is due to the probable initiation of a downward impulse, and a breakdown with a strong decline fits well as a third wave.

Investment idea: sell 109.30, stop loss 109.60, take profit 106.50.