Type: Bullish ContinuationKey Levels:Resistance: 797’4 Pivot: 763’2Support: 778’2Preferred Case:With price expected to reverse off the stochastics indicator, we are bias that price will drop to our 1st support of 728’4 in line with the 38.2% Fibonacci retracement and 78.6% Fibonacci retracement area from our pivot of 763’2 in line with the horizontal swing high resistance and 61.8% Fibonacci retracement.Alternative Scenario: Alternatively, price may break our pivot structure and head for 1st support at 778’2 in line with the horizontal swing high resistance.Fundamentals:No major news event.
Source: Tickmill
