Type: Bullish RiseKey Levels:Resistance: 12261.50Pivot: 11973.00Support: 11745.25Preferred Case:On the H4, with price moving above the ichimoku cloud and has broken through the descending trendline, we have a bullish bias that price will rise to the pivot at 11973.00 in line with the pullback resistance and 78.6% fibonacci retracement . Once we have upside confirmation that price has broken past pivot , we would expect bullish momentum to carry price to the 1st resistance at 12261.50 where the swing high resistance and 100% fibonacci projection are.Alternative Scenario:Alternatively, price may drop to the 1st support level at 11745.25 in line with the pullback support, 38.2% fibonacci retracement and 61.8% fibonacci projection .Fundamentals:No Major News
Source: Tickmill
