Type:
Bullish Rise
Key Levels:
Resistance: 20820
Pivot: 19370
Support: 18330
Preferred Case:
On the H4, price has pulled back but we’re looking for a reversal at 19370 where the 78.6% retracement and 100% projection sits. If price still respects the ichimoku as well as the bullish breakout, it should bring price to 20820 where the previous swing high sits
Alternative Scenario:
Alternatively, price could break pivot structure and drop to the 1st support at 18330 where the previous swing low sits
Fundamentals:
No key news
Source: Tickmill