With the weekly candle closing a short while ago, it locked in a fairly bearish price action pattern. The pattern is a bearish Inside Bar/Pin Bar combo. This pattern would imply a greater probability that price continues its bearish trend. If price does break down in a major way then the next logical support zone is between $80-90. If that level were to give then the next support after that would be in the $40-50 range. For this pattern to be invalidated price would need to break and hold about $155.
