Type: Bearish DropKey Levels:Resistance: 1759’2Pivot: 1728’4Support: 1637’4Preferred Case:With price expected to reverse off the stochastics 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 100% Fibonacci projection from our pivot at 1728’4 in line with the 61.8% Fibonacci retracement.Alternative Scenario:Alternatively, price may break our pivot structure and head for 1st resistance at 1759’2 in line with the horizontal swing high resistance and 127% Fibonacci extensionFundamentals:No major news
Source: Tickmill
