NFLX – Bearish Divergence Playing Out, $1,177 in Focus

This is a follow-up to my June 7 post where I highlighted a high-probability bearish divergence setup on Netflix. Since then, price has rejected from the supply zone and is now hovering above the critical $1,177 structure support.

🔍 What’s changed:
📉 Bearish divergence confirmed — price rejected the highs
🔻 Momentum continues to fade, RSI rolling down from >73
📊 Price now sitting on $1,177, the last higher low
📏 Fibonacci levels mapped for potential continuation if broken

📐 Key Levels:
Structure Support (still holding): $1,177
Breakdown targets (Fibonacci):
0.382 → $1,094
0.5 → $1,042
0.618 → $990
Resistance to monitor for retest: $1,240–$1,260

🧠 Outlook:
If $1,177 holds → we may bounce temporarily.
If it breaks → bearish continuation likely, targeting 5–10% lower.

The bearish divergence setup is now in motion. Structure will determine whether this turns into a full breakdown.