Type: Bullish Bounce
Resistance: 1962.9
Pivot: 1944.2
Support: 1934.1
Preferred case: Price is moving nearer to the pivot level. We are expecting the price to potentially bounce off from our pivot level of 1944.2 in line with 138.2% Fibonacci extension towards our 1st resistance level of 1962.9 which is in line with 38.2% Fibonacci retracement and 61.8% Fibonacci projection.
Alternative scenario: Otherwise, the price might break our pivot structure and head for the 1st support level of 1934.1 in line with the 61.8% Fibonacci projection.
Fundamentals: No major news.
Resistance: 1962.9
Pivot: 1944.2
Support: 1934.1
Preferred case: Price is moving nearer to the pivot level. We are expecting the price to potentially bounce off from our pivot level of 1944.2 in line with 138.2% Fibonacci extension towards our 1st resistance level of 1962.9 which is in line with 38.2% Fibonacci retracement and 61.8% Fibonacci projection.
Alternative scenario: Otherwise, the price might break our pivot structure and head for the 1st support level of 1934.1 in line with the 61.8% Fibonacci projection.
Fundamentals: No major news.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.