Last week, we noted that United Parcel Service $UPS looked like it was developing a long-term price top in 2018. United Parcel Service (UPS) Signals Bearish OutlookHere, a week later, price has extended lower, completing the price top predicted last week.UPS Daily Chart(click to enlarge)On the daily chart, we see 3 bearish signs:1) Price almost cleared above the cluster of moving averages, but didn't. The subsequent retreat was sharp. The combination of these two facts suggests bears are in control.2) The RSI held below 60 and reflects maintenance of the prevailing bearish momentum.3) This week, price action broke a rising trendline and a flat support around $102.On the weekly chart, we can see that price has broken below a rising trendline as well as the cluster of 200-, 100-, and 50-week SMAs.Next Support:- Let's first acknowledge that the bearish outlook we are anticipating is within the context of a long-term bullish trend we have been seeing since 2009. Therefore, we will respect key support levels.- We should anticipate some more bearish correction, but also note that there was a common support around $93-$95.- Below that the $87-$88 area, which involves the 2016 low, should also provide support.- It should also be noted that the $89.33 level was a key resistance that could also act as support. - So, basically, we are talking about anticipating support as price approaches $90, but realize that the market might start buying higher or lower. UPS Weekly Chart(click to enlarge)