Type: Bullish RiseKey Levels:Resistance: 1623’2Pivot: 1580’0Support: 1546’4Preferred Case:With price expected to bounce off the stochastics indicator, we have a bullish bias that price will rise to our 1st resistance at 1623’2 in line with the 38.2% Fibonacci retracement and pullback resistance from our pivot of 1580’0 in line with the 161.8% Fibonacci extension and swing low support.Alternative Scenario:Alternatively, if price breaks our pivot structure, it may head for 1st support at 1546’4 in line with the swing low support.Fundamentals:No major news.
Source: Tickmill
