The key horizontal level of resistance from the year 2002 has been tested with a break above and a quick break back below showing a rejection of the level. On the 1 hour time frame we can identify that a new lower low has been printed indicating a bearish trend change and a bear flag has now formed. First entry will be within the bear flag once the 15 minute time frame confluences start to stack up. 2nd entry will be a scale in entry once further new lower lows are printed.