Barclays (LON: BARC) share price is approaching a critical resistance level, and a rejection here could lead to a decline in the coming days and weeks. The 142p resistance level, which was previously a strong support, is now a key point to watch.

On Monday, Barclays shares closed at 140.2p as the FTSE 100 index reflected a generally bearish sentiment in the market. The index itself is at a critical breakout point, awaiting bullish momentum.

Technical analysis of Barclays supports a cautious outlook, as the stock is struggling to break above the 142p resistance level. However, if the price manages to break through, it could invalidate the current bearish outlook.

The daily chart shows the price action of Barclays, with each candle representing a full trading day. The 142p level was the lowest point in the range from which the stock broke down in October. Only a successful move above this level would signal a bullish reversal.