Major resistance in a down trend. Entering short position now.
Price continues to hover and test major resistance at 88.0 (61.8% Fibonacci retracement , 78.6% Fibonacci retracement , horizontal swing high resistance, bearish price action) and a strong reaction could occur at this level to push price down towards 86.20 support (50% Fibonacci retracement , horizontal pullback support).
Stochastic (34,5,3) is seeing major resistance below our 97% level of resistance.
Mostly Resistance
Price continues to hover and test major resistance at 88.0 (61.8% Fibonacci retracement , 78.6% Fibonacci retracement , horizontal swing high resistance, bearish price action) and a strong reaction could occur at this level to push price down towards 86.20 support (50% Fibonacci retracement , horizontal pullback support).
Stochastic (34,5,3) is seeing major resistance below our 97% level of resistance.
Mostly Resistance
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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.