Prices are testing a monthly supply region, on the H1 time frame, a break below the downside confirmation level at 1848.20 in line with the 50% Fibonacci retracement could provide the bearish acceleration for a further drop to the next support zone at 1824.20. This support zone lines up with the graphical support and 50% Fibonacci retracement. Stochastic is testing resistance at 93.95 as well supporting the bearish bias.
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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.