Type: Bearish ReversalKey Levels:Resistance: 35698Pivot: 35146Support: 34402Preferred Case:With price moving within the descending channel and the conversion line crossing the base line on the Ichimoku indicator, we are bias that price will drop from our pivot of 35146 in line with the horizontal swing high resistance and 38.2% Fibonacci retracement to 1st support at 34402 in line with the horizontal overlap support and 50% Fibonacci retracement.Alternative Scenario:Alternatively, price may break pivot structure and head for 1st resistance at 35698 in line with the horizontal overlap support and 78.6% Fibonacci retracement.
Source: Tickmill
