Type : Bearish Continuation
Resistance : 11122'2
Pivot: 1105'2
Support : 1080'4
Preferred Case: With the MACD indicating some bearish momentum, we have a bearish bias that price will drop to our 1st support in line with the 50% Fibonacci retracement and horizontal pullback support from our pivot of 1105'2 in line with the 23.6% Fibonacci retracement and the horizontal overlap support.
Alternative scenario: Alternatively, price may break pivot structure and head for 1st resistance in line with the 127.2% Fibonacci extension and horizontal swing high resistance.
Fundamentals: No Major News
Resistance : 11122'2
Pivot: 1105'2
Support : 1080'4
Preferred Case: With the MACD indicating some bearish momentum, we have a bearish bias that price will drop to our 1st support in line with the 50% Fibonacci retracement and horizontal pullback support from our pivot of 1105'2 in line with the 23.6% Fibonacci retracement and the horizontal overlap support.
Alternative scenario: Alternatively, price may break pivot structure and head for 1st resistance in line with the 127.2% Fibonacci extension and horizontal swing high resistance.
Fundamentals: No Major News
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.
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.