Price is taking support on 1st support level, in line with the ascending trendline support, horizontal pullback support, 78.6% fibonacci extension and 38.2% fibonacci retracement. Prices might potentially bounce to 1st resistance , which is a 78.6% fibonacci extension and -27.2% fibonacci retracement. If prices fall through the first support, prices might pullback to 2nd support which coincides with horizontal swing low support, 161.8% fibonacci extension and 38.2% fibonacci retracement. EMA is also below prices, suggesting a bullish pressure on the prices.
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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.