Type:
Bearish Drop
Key Levels:
Resistance: 152’12
Pivot: 149’28
Support: 148’08
Preferred Case:
On the H4, with the price moving within the descending trendline and below ichimoku cloud, we have a bearish bias that the price may drop from the pivot at 149’28, which is in line with the swing low to the support at 148’08, where the previous significant swing low is.
Alternative Scenario:
Alternatively, price could rise to the 1st resistance at 152’12, where the 23.6% fibonacci retracement and swing lows are.
Fundamentals:
No key news.
Source: Tickmill
