Type:
Bearish Drop
Key Levels:
Resistance: 1952.5
Pivot: 1920.4
Support: 1841.8
Preferred Case:
On the H4, with price moving below the ichimoku indicator, we have a bearish bias that price will drop from the pivot at 1920.4 where the pullback resistance is to the 1st support at 1841.8 where the pullback support, 50% fibonacci retracement and 161.8% fibonacci extension are.
Alternative Scenario:
Alternatively, price could break pivot structure and rise to 1st resistance at 1952.5 where the pullback resistance is.
Fundamentals:
No Major News
Source: Tickmill