Price is testing a longer term sloping channel from below right at the lower Kumo Cloud resistance and in proximity of Yearly S2/Monthly PP confluence resistance. Even if price closed above the confluence resistance last week, the additional resistance may give pause in upward action. A strong candle to the upside closing inside the Kumocloud will expose previous highs and potentially the upper Kumocloud. A daily close below the cloud will give a bearish Kumocloud Breakout sell signal. Note that Retail Sentiment is still net short which points to further gains, but with a sharp move down this can quickly flip.