Type : Bullish Bounce
Resistance : 220.75
Pivot: 211.10
Support : 204.70
Preferred Case: Price is near pivot level of 211.10 in line with 127.20% Fibonacci extension and 61.8% Fibonacci projection. Price can potentially move towards the 1st resistance level of 220.75. Our bullish bias is further supported by stochastic indicator as it is at support level.
Alternative scenario: Price could also head towards the 1st support level of 204.70 in line with 78.6% Fibonacci projection and 138.2%% Fibonacci extension .
Fundamentals: No Major News
Resistance : 220.75
Pivot: 211.10
Support : 204.70
Preferred Case: Price is near pivot level of 211.10 in line with 127.20% Fibonacci extension and 61.8% Fibonacci projection. Price can potentially move towards the 1st resistance level of 220.75. Our bullish bias is further supported by stochastic indicator as it is at support level.
Alternative scenario: Price could also head towards the 1st support level of 204.70 in line with 78.6% Fibonacci projection and 138.2%% Fibonacci extension .
Fundamentals: No Major News