Type: Bullish BounceKey Levels:Resistance: 27479.38Pivot: 27171.76Support: 26531.38Preferred Case:Prices are on bearish momentum and consolidating in a descending channel. We see the potential for a dip from our Pivot at 27171.76 in line with 100% Fibonacci extension toward sour 1st support at 26531.38 in line with 100% Fibonacci extension. Prices are trading below our Ichimoku cloud resistance, further supporting our bearish bias.Alternative Scenario:Alternatively, prices may climb towards our 1st resistance at 27479.38 in line with 161.8% Fibonacci Projection.
Source: Tickmill