Stochastic and linear regression suggests bearish move

The price action has recently opened above the +2 standard deviation, but bears brought the price action back below. The stochastic has indicated overbought conditions, implying a downward correction.

The price action is currently moving in the downward direction and the crossover of the stochastic and the exit from the overbought zone indicate further losses.

The price action should tend towards the regression line in the middle and short orders should wait for the price action to pass below the +1 standard deviation for further confirmation of a downward move.