Type : Bearish Momentum
Resistance : 3.6525
Pivot: 3.5009
Support : 3.1892
Preferred Case: On the H4, with price moving below the ichimoku cloud and along the descending trendline, we have a bearish bias that price will rise and drop from the pivot at 3.5009 in line with the overlap resistance to the 1st support at 3.1892 where the 61.8% fibonacci projection and swing low support are.
Alternative scenario: Alternatively, price may break pivot structure and rise to the 1st resistance at 3.6525 where the pullback resistance, 100% fibonacci projection and 78.6% fibonacci retracement are.
Fundamentals: U.S. gasoline demand is down roughly 4.5% from last week, giving us a bearish bias on gasoline.
Resistance : 3.6525
Pivot: 3.5009
Support : 3.1892
Preferred Case: On the H4, with price moving below the ichimoku cloud and along the descending trendline, we have a bearish bias that price will rise and drop from the pivot at 3.5009 in line with the overlap resistance to the 1st support at 3.1892 where the 61.8% fibonacci projection and swing low support are.
Alternative scenario: Alternatively, price may break pivot structure and rise to the 1st resistance at 3.6525 where the pullback resistance, 100% fibonacci projection and 78.6% fibonacci retracement are.
Fundamentals: U.S. gasoline demand is down roughly 4.5% from last week, giving us a bearish bias on gasoline.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.