Type:
Bullish Continuation
Key Levels:
Resistance:
24.775
Pivot:
706.50
Support:
23.140
Preferred Case:
Looking at the H4 chart, my overall bias for SI1! is bullish due to the current price crossing above the Ichimoku cloud , indicating a bullish market. If this bullish momentum continues, expect price to possibly head towards the resistance at 24.775, where the recent high is.
Alternative Scenario:
Price may head back down towards the support at 23.140 where the 38.2% Fibonacci line is located.
Fundamentals:
There are no major news.
Source: Tickmill