Type: Bullish ContinuationKey Levels:Resistance: 1747’2Pivot: 1656’0Support: 1625’6Preferred Case:On the H4 chart, price is near our pivot of 1656’0 in line with horizontal overlap support and 38.2% Fibonacci retracement . Price can potentially rise to our 1st resistance level at 1747’2 in line with the horizontal swing high resistance and 78.6% Fibonacci retracement . Our bullish bias is supported by how price is moving above the Ichimoku cloud .Alternative Scenario: Alternatively, price may head to our 1st support at 1625’6 in line with the 61.8% Fibonacci retracement level.Fundamentals:No major news event.
Source: Tickmill