The price is currently trading at a sensitive area just below the last resistance high, leading to two possible scenarios.
In the first scenario, if the price continues trading below this resistance level, short-term declines are expected. A confirmed bearish trend would emerge if the price breaks below 5992, especially with a 4-hour candle closing beneath this level. There is also a possibility of a slight upward movement to retest the resistance before resuming the decline.
In the second scenario, if the price crosses above the last resistance high, the next target would be 6160, marking the formation of a new high.