Price is facing bearish pressure as it continues to hold below the descending trendline and moving average resistances. We could potentially see a reversal at 1st resistance, in line with our 50% Fibonacci retracement, 78.6% Fibonacci extension and horizontal pullback resistance, and a further drop towards our 1st support, in line with our -27.2% Fibonacci retracement and horizontal swing low support.
Trading CFDs on margin carries high risk.
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.