Type : Bearish Momentum Key Levels:Resistance : 18.96 Pivot: 18.42 Support : 17.58 Preferred Case: On the H4, with price moving below the ichimoku cloud and in a descending trendline, we have a bearish bias that price will drop from the pivot at 18.42 in line with the 78.6% fibonacci projection to the 1st support at 17.58 in line with the 78.6% fibonacci projection and horizontal swing low. Alternative scenario: Alternatively, price may reverse off the pivot and rise to the 1st resistance at 18.96 at the swing high in line with the 23.6% fibonacci retracement . Fundamentals: no major news
Source: Tickmill
