Price is approaching our first support (horizontal swing low support, short term ascending support line, 100% Fibonacci extension, 61.8% Fibonacci retracement) where a strong bounce to our resistance (horizontal swing high resistance, 50% Fibonacci retracement) might occur. Stochastic is also seeing a bounce where we might see a corresponding rise in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.