Type:
Bullish Rise
Key Levels:
Resistance: 1016’7
Pivot: 915’5
Support: 818’0
Preferred Case:
On the H4, with price moving along the ascending channel and above the ichimoku indicator, we have a bullish bias that price will rise from the pivot at 915’5, which is in line with the 161.8% fibonacci extension and 50% fibonacci retracement to the 1st resistance at 1016’7 where the 50% and 78.6% fibonacci retracement .
Alternative Scenario:
Alternatively, price could break pivot structure and drop to the 1st support at 818’0 where the overlap support and 50% fibonacci retracement are.
Fundamentals:
No Major News
Source: Tickmill
