In this time frame, after failing to cross the resistance range of $1312, the price is moving in a downward trend line, and it is possible that the cup & handle upside down pattern pattern be created, which is a kind of descending pattern. This pattern becomes valid when the price falls to the 0.786 Fibonacci range and after a little correction continues to fall again to the support range of $1174.
Support target: 1227-1204-1174
Support target: 1227-1204-1174