Price is approaching 1st support, which is in line with our 78.6% Fibonacci retracement, 78.6% Fibonacci extension, horizontal swing low support and ascending trendline support. We could potentially see a bounce at this level and further rise up towards 1st resistance, which is in line with 61.8% Fibonacci retracement, 61.8%,161.8% Fibonacci extension and horizontal overlap resistance. Stochastics has also just bounced from the 11.71 level where it has reacted from before.
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Losses can exceed the initial investment so please ensure you fully understand the risks.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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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.