Type: Bearish BreakoutKey Levels:Resistance: 775.63Pivot: 768.05Support: 758.5Preferred Case:On the H1, with price moving below the ichimoku cloud and within the descending trend channel, it supports our bearish bias that price will drop from our pivot at 768.05 in line with the 78.6% fibonacci projection and the 23.6% fibonacci retracement to our 1st support at 758.5 at the swing low.Alternative Scenario:Alternatively, price may break our pivot and rise to our overlap resistance at 758.5 in line with the 38.2% fibonacci retracement.
Source: Tickmill