$MUBARAK – Rejection at Swing High, Bearish Pressure Building

$MUBARAK spiked to \$0.03563 but faced immediate rejection, forming a long upper wick and closing lower at \$0.03500. This price action suggests a possible bull trap or exhaustion after a fast recovery from \$0.03284. Volume surged during the wick, indicating selling into strength — a classic sign of bearish divergence.

Trade Setup:

Short Entry: \$0.03490 – \$0.03520

Target 1: \$0.03410

Target 2: \$0.03300

Stop Loss: Above \$0.03580

Unless bulls reclaim control quickly, downside continuation is likely. Watch the \$0.0345 level — if broken, further weakness is expected.

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