The first red week out of the last 7 weeks, price had rallied over 6% since early October and this is the first sign of a reversal for the continued move. The volume had been weak over the last few weeks on new highs. Price did make a new all-time high this week before reversing on the week. The doji candle that formed at the top of the trend on a weekly chart indicates the start of a reversal and looking at the multi-timeframe analysis on a daily candle chart as well we've seen the downside begin to open up. If price breaks below 311 this week and closes under we can see more downside open up and the start of a slight reversal. The first target is the broken top at 301, where the volume profile that measures year to date tapers off for an edge of low volume. This ties into the order flow trade. The longer-term potential target for the downside is the start of the impulse move higher at 293.50 which is the year to date POC.
Disclaimer: This is not trading or investing advice, the idea represented is for educational purposes only.