Type:
Bullish Momentum
Key Levels:
Resistance: 20.005
Pivot: 19.140
Support: 18.720
Preferred Case:
The price is crossing the ichimoku cloud and moving within the ascending trendline, we have a bullish bias that the price may rise from the pivot at 19.140, which is in line with the 23.6% fibonacci retracement to the 1st resistance at 20.005, where the 78.6% fibonacci retracement and overlap resistance are.
Alternative Scenario:
If bearish momentum persists, expect price drop to the 1st support at 18.720, where the 50% fibonacci retracement is.
Fundamentals:
There is no major news.
Source: Tickmill
