Alphabet Inc. $GOOGL is retreating after a July bullish breakout. I think this is a buy-the-dip type of action and the $1155-$1160 area will be a key support. GOOGL Daily Chart (click to enlarge) Key Support:- The $1155-$1160 area has been a common support/resistance pivot throughout GOOGL's consolidation price action since 2018. - If GOOGL has turned bullish again, this will be a key support area. Breakdown Scenario:- A break below $1120 on the other hand would reflect a market still in consolidation.- Furthermore, because of the previous failed attempt to test that $1290 high, I would anticipate a challenge of the support around $1000.- In this bearish correction scenario, I would still get dry powder ready for the $920-$950 area. GOOGL Weekly Chart (click to enlarge)