Following a clear rejection from the macro Whole Correction Level (WCL) zone overhead near $29.50–$35.00, AT&T ( T ) established a high-probability bearish SK sequence on the weekly timeframe. The primary wave down established Point A near $22.00, while the subsequent counter-trend pullback printed Point B at $29.50. This overall structural swing set the stage for the next major impulse lower.

Price recently completed a key retest into the internal BC zone ($25.00–$26.50), absorbing liquidity before meeting aggressive sell-side resistance. The distinct rejection candle closing out of this BC zone confirms that institutional control remains heavily skewed to the downside, validating the sequence and signaling that the corrective retest phase is finished.

With the BC zone successfully defended, price action is now primed for a sustained expansion toward the structural Point C target zone ($16.00–$18.20). As long as weekly price action holds below the BC high, the path of least resistance remains lower until sequence Target C is fully completed.