Type:
Bearish Momentum

Key Levels:
Resistance: 691.0
Pivot: 661. 40
Support: 675.60

Preferred Case:
The overall price on the H4 is bullish . Furthermore, the price is above the Ichimoku cloud , indicating that the market is bullish . Price attempted but failed to breach the first resistance level at 691.00. Price responded with a massive rejection wick. Price could potentially reverse back down to the first support level at 675.6, which also happens to be the 61.8% Fibonacci retracement line.

Alternative Scenario:
If bullish momentum continues, expect price to move towards 705.6, which contains the -27.2% Fibonacci expansion line and the 127.2% Fibonacci extension line.

Fundamentals:
There are no major news.