Preferred case: Looking at the H4 chart, my overall bias for CC1! is bullish due to the current price crossing above the Ichimoku cloud , indicating a possible shift to bullish market structure. If this bullish momentum continues, expect price to head back up towards the resistance at 2569, where the previous swing high is.
Alternative scenario: Price may break the support at 2470, where the 61.8% Fibonacci line is before heading towards the pivot at 2422, where the 50% Fibonacci line is.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.