DFMREI : Is Downtrend Over ?DFM Real Estate IndexDFM_DLY:DFMREIwish_fundDFMREI (Dubai Financial Markets Real Estate Index) 📉 Is the Downtrend Over? Reverse Fibonacci Suggests Another Leg Lower ⚠️ After rejecting from the 16.8k trendline resistance, the market continues to respect its broader bearish structure. Here's what the chart is telling us: 🔹 The previous impulse moved from a 13k swing low to a 16.8k swing high, which also aligned perfectly with a major descending trendline resistance. Applying a Reverse Fibonacci Extension projected the 10.6k zone as the first major downside objective—and price respected it almost precisely during the sharp selloff triggered by the Middle East geopolitical conflict (highlighted by the black arrow). 🔹 The subsequent dead cat bounce stalled near 12.8k, a level that has repeatedly acted as both historical support and resistance, confirming it as a significant supply zone where sellers regained control. What's Next? Using the latest price structure: Swing Low: 10.6k Swing High: 12.8k The prevailing trend remains bearish, with lower highs and lower lows still intact. Projecting another Reverse Fibonacci 1.618 Extension identifies the 9k–8k demand zone as the next high-probability downside target (illustrated by the red path). Adding further weight to the bearish outlook, the chart is also developing a Bearish Pennant / Bear Flag continuation pattern. If this structure confirms with a downside breakout, the measured move projects a final target around the 7.3k–7k region ( blue arrow marked ) Key Technical Confluences ✅ Reverse Fibonacci Extensions ✅ Bearish Pennant / Bear Flag Pattern ✅ Trendline Resistance Rejection ✅ Lower High–Lower Low Market Structure ✅ Historical Support & Resistance Flip ✅ Momentum Continuation Setup My View As long as price remains below 12.8k, rallies may continue to be selling opportunities rather than signs of a trend reversal. A confirmed break below 10.6k could accelerate downside momentum toward the 9k–8k zone, while a completed bear flag projection opens the possibility of testing the 7k area. What do you think? Is this simply another correction, or are we preparing for the next major leg down? Share your analysis below. #TechnicalAnalysis #TradingView #PriceAction #ReverseFibonacci #FibonacciExtension #BearFlag #BearishPennant #ChartPattern #SupportAndResistance #TrendAnalysis #SwingTrading #MarketStructure #StockMarket #Crypto #Investing #Trading #Momentum #Breakdown #TrendFollowing #SmartMoney #VolumeAnalysis #ChartOfTheDay #TradeIdeas #MarketOutlook #Bearish Btw, i had already shared the dead cat bounce scenario, proof below Educational content only. Not financial advice.