Type : Bearish Momentum
Resistance : 220.95
Pivot: 213.75
Support : 200.60
Preferred Case: Price is near pivot level of 213.75 in line with 161.8% Fibonacci extension and 78.6% Fibonacci retracement. Price can potentially move towards the 1st support level which is graphical swing low support. Our bearish bias is further supported by price trading below the Ichimoku cloud indicator.
Alternative scenario: Price could also head towards the 1st resistance level of 220.95 in line with 61.8% Fibonacci projection and 38.2%% Fibonacci retracement.
Fundamentals: No Major News
Resistance : 220.95
Pivot: 213.75
Support : 200.60
Preferred Case: Price is near pivot level of 213.75 in line with 161.8% Fibonacci extension and 78.6% Fibonacci retracement. Price can potentially move towards the 1st support level which is graphical swing low support. Our bearish bias is further supported by price trading below the Ichimoku cloud indicator.
Alternative scenario: Price could also head towards the 1st resistance level of 220.95 in line with 61.8% Fibonacci projection and 38.2%% Fibonacci retracement.
Fundamentals: No Major News