On the H4, with price recently breaking the ascending trendline, we have a bearish bias that price will drop from the pivot at 30783 in line with the overlap resistance and 50% fibonacci retracement to the 1st support at 29662 at the swing low in line with the 61.8% fibonacci projection. Alternatively, price may reverse off the pivot and rise to the 1st resistance at 31858 at the pullback swing high in line with the 61.8% fibonacci retracement and 78.6% fibonacci projection.
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.
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.