This is a follow-up to my June 7 post where I highlighted a high-probability bearish divergence setup on Netflix. Since then, price has rejected from the supply zone and is now hovering above the critical $1,177 structure support.
🔍 What’s changed:
📉 Bearish divergence confirmed — price rejected the highs
🔻 Momentum continues to fade, RSI rolling down from >73
📊 Price now sitting on $1,177, the last higher low
📏 Fibonacci levels mapped for potential continuation if broken
📐 Key Levels:
Structure Support (still holding): $1,177
Breakdown targets (Fibonacci):
0.382 → $1,094
0.5 → $1,042
0.618 → $990
Resistance to monitor for retest: $1,240–$1,260
🧠 Outlook:
If $1,177 holds → we may bounce temporarily.
If it breaks → bearish continuation likely, targeting 5–10% lower.
The bearish divergence setup is now in motion. Structure will determine whether this turns into a full breakdown.
🔍 What’s changed:
📉 Bearish divergence confirmed — price rejected the highs
🔻 Momentum continues to fade, RSI rolling down from >73
📊 Price now sitting on $1,177, the last higher low
📏 Fibonacci levels mapped for potential continuation if broken
📐 Key Levels:
Structure Support (still holding): $1,177
Breakdown targets (Fibonacci):
0.382 → $1,094
0.5 → $1,042
0.618 → $990
Resistance to monitor for retest: $1,240–$1,260
🧠 Outlook:
If $1,177 holds → we may bounce temporarily.
If it breaks → bearish continuation likely, targeting 5–10% lower.
The bearish divergence setup is now in motion. Structure will determine whether this turns into a full breakdown.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.