Type: Bearish DropKey Levels:Resistance: 1728’4Pivot: 1691’6Support: 1637’4Preferred Case:With price expected to reverse off the Ichimoku cloud resistance , we have a bearish bias that price will drop to our 1st support at 1637’4 in line with the horizontal swing low support and 61.8% Fibonacci projection from our pivot at 1691’6 in line with the 50% Fibonacci retracement.Alternative Scenario:Alternatively, price may break our pivot structure and head for 1st resistance at 1728’4 in line with the horizontal swing high resistance and 127% fibonacci extension Fundamentals:No major news
Source: Tickmill
