Price is currently approaching and likely to break the horizontal overlap support at 76.225 which is in line with 50% Fibonacci retracement and 50% Fibonacci extension. Should price break the 1st support, we can expect price to plunge further to take support at the 75.273 level in line with our horizontal swing low and 100% Fibonacci extension level. Our bearish bias is further reinforced by how the MACD is holding below the 0 line.
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.