Prices are facing bullish pressure from 1st support level which is in line with 50% fibonacci extension and 78.6% fibonacci retracement . Prices might push up towards 1st resistance which is horizontal swing high resistance which is in line with 161.8% fibonacci retracement and 50% fibonacci retracement . If prices fall through 1st support, prices might take support from 2nd support which is in lien with -27.2% fibonacci retracement and 61.8% fibonacci extension . Stochastics is also approaching 5.71 level, potential for a bounce which is in line with our hypothesis.
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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.