Emergence of Bear Flag in Nasdaq

The price action seems to be suggesting the formation of Bear Flag Pattern.

The price fell steeply and then gave a pullback, which is getting sold into.

As the channel of flag breaks downwards, the fall may gain momentum.

Further price action will confirm or negate the pattern, it may move cleanly or will have whipsaws.

If the price starts consolidating for long here, rather than breaking downwards, the pattern may fail.

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