Type: Bearish Momentum
Resistance: 4008.75
Pivot: 3821.75
Support: 3507.75
Preferred Case: On H4, as the price moving below descending trendlines and ichimoku cloud , we have a bearish bias that the price may drop from the pivot at 3821.75, which is in line with the 50% fibonacci retracement to the 1st support at 3507.75 where the swing low is.
Alternative scenario: Alternatively, the price may rise to the 1st resistance at 4008.75, which is in line with the 61.8% fibonacci retracement .
Fundamentals: There are no major news.
Resistance: 4008.75
Pivot: 3821.75
Support: 3507.75
Preferred Case: On H4, as the price moving below descending trendlines and ichimoku cloud , we have a bearish bias that the price may drop from the pivot at 3821.75, which is in line with the 50% fibonacci retracement to the 1st support at 3507.75 where the swing low is.
Alternative scenario: Alternatively, the price may rise to the 1st resistance at 4008.75, which is in line with the 61.8% fibonacci retracement .
Fundamentals: There are no major news.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
Disclaimer
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.
Disclaimer
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.