We spotted potential falling wedge formation on SLP and price just tested out the upper trendline and got rejected.
Our focus is on 38.2% fib ret level from the previous ATH to the current ATL.
If price manage to surpass this level then our target is 61.8% level which is tagged as CRUCIAL resistance zone.
But if price give more buyer opportunity, then we can have a sharp decline from 38.2% level to where we have AOI level for re-loading of Longs positions.