Description:
Price holding below descending trendline resistance. With MACD starting to cross below 0, further bearish momentum can be expected. A drop below our pivot at 3924 towards 1st support at 3860 can be possible. Otherwise price could swing the other way towards 3950 1st resistance.
Pivot: 3924
Supporting Points:
Descending trendline resistance
1st Support: 3860
Supporting Points:
-61.8% Fibonacci retracement
1st Resistance: 3950
Supporting Points:
Graphical swing high
Trading FX & CFDs carries high risk.
Price holding below descending trendline resistance. With MACD starting to cross below 0, further bearish momentum can be expected. A drop below our pivot at 3924 towards 1st support at 3860 can be possible. Otherwise price could swing the other way towards 3950 1st resistance.
Pivot: 3924
Supporting Points:
Descending trendline resistance
1st Support: 3860
Supporting Points:
-61.8% Fibonacci retracement
1st Resistance: 3950
Supporting Points:
Graphical swing high
Trading FX & CFDs carries high risk.