As it can be inferred from the chart, the price is currently rejecting an important zone of previous support turned resistance that perfectly lines up with 61.8% Fibonacci retracement level. We are expecting for the price to keep dropping an reach the area of previous Lower Low (78.8)
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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.