Type:
Bullish Continuation
Key Levels:
Resistance:
2577
Pivot:
2422
Support:
2500
Preferred Case:
Looking at the H4 chart, my overall bias for CC1! is bullish due to the current price being above the Ichimoku cloud , indicating a bullish market. If this bullish momentum continues, expect price to possibly head towards the resistance at 2577, where the previous high is.
Alternative Scenario:
Price may go back down and retest the support at 2500 where the 23.6% Fibonacci line is located.
Fundamentals:
There are no major news.
Source: Tickmill