$RIVER This chart is showing a Bearish Flag (also called a Bear Flag continuation) pattern.

Why:

• Strong impulsive move up (from ~2.7 to ~23.8) → this is the flag pole

• Sharp rejection at the top and then lower highs + downward consolidation

• Price is below EMA 7 & EMA 25, showing short-term weakness

• RSI is weak and MACD is bearish → momentum is down

• Volume is decreasing during consolidation → classic flag behavior

What it means:

• This pattern usually continues downward

• High probability of another leg down if support breaks

Key Levels:

• Resistance: 14.8 – 15.6 zone

• Support: 13.2 (important)

• Breakdown target: 11.5 → 10.8 area

Trade Bias:

• Short on rejection near resistance

• Short on breakdown below 13.2

• Invalidation: Strong close above 15.6