Type:
Bullish Continuation
Key Levels:
Resistance:
18.530
Pivot:
17.620
Support:
16.630
Preferred Case:
Looking at the H4 chart, my overall bias for ZR1! is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market. If this bullish momentum continues, expect price to continue heading towards the resistance at 18.530, where the recent high is.
Alternative Scenario:
Price could head back down to retest the pivot at 17.620, where the 61.8% Fibonacci line is.
Fundamentals:
There are no major news.
Source: Tickmill