Type: Bearish DropKey Levels:Resistance: 372Pivot: 363.9Support: 332Preferred Case:We see the potential for a further bearish drop from our Pivot at 363.9 in line swing high resistance towards our 1st support at 332 in line with 127.2% Fibonacci projection and 61.8% Fibonacci retracement . Our bearish bias is further supported prices trading below our Ichimoku clouds .Alternative Scenario:If prices were to reverse, they can potentially climb towards our 1st resistance at 372 which is in line with 100% Fibonacci projectionFundamentals:Warmer weather conditions and renewable energy sources might mean temporary setback on the commodities
Source: Tickmill