Type: Bullish BounceKey Levels:Resistance: 157.957Pivot: 156.626Support: 156.165Preferred Case:Prices are on bullish momentum and abiding to our ascending trendline support. We see the potential for a bounce from our Pivot at 156.626 in line with 100% Fibonacci retracement and 23.6% Fibonacci retracement towards our 1st resistance at 157.957 in line with 100% Fibonacci retracement. Prices are trading above our Ichimoku cloud support and also RSI is showing bullish momentum, further supporting our bullish hypothesis.Alternative Scenario:Alternatively, prices may dip towards our 1st support at 156.165 in line with 61.8% Fibonacci retracement
Source: Tickmill