Type: Bullish Breakout Key Levels:Resistance: 4202.25 Pivot: 3827.75 Support: 3654.00Preference: On the H4, with price moving in an ascending trend channel, we have a bullish bias that price will rise from the pivot at 3827.75 in line with the pullback support, 38.2% fibonacci retracement and 61.8% fibonacci projection to the 1st resistance at 4202.25 in line with the swing high and 50% fibonacci retracement.Alternative Scenario: Alternatively, price may reverse off the pivot and drop to 1st support at 3654.00 at the horizontal swing low in line with 78.6% fibonacci projection.
Source: Tickmill
