Possible continuation of sell-off tonight?

Attached is ORCL price chart in hourly time frame. Looks like we are currently near a pivotal moment that will decide the price direction when market opens.

If price consistently stays below the upper green trendline and below the upper red trendline, the selling pressure might eventually overwhelm traders and trigger a sell-off, dropping price to ≈ 175, retesting yesterday's low.

On the other hand, if price consistently stays above the green trendline, there is a chance to bounce back to 185.

I personally lean towards the bearish side because I think sell-off might resume today. Most active traders might even focus more of SpaceX IPO today, leaving ORCL with reduced trading volume which will make it difficult for price to bounce up.

I aim to implement bearish vertical spread. I might be wrong. This is just my opinion. Let's see how it goes. Good luck everyone.

$Oracle (ORCL.US)$

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