Type : Bearish Drop
Resistance : 9.250
Pivot: 8.945
Support : 8.495
Preferred Case: On the H4, with the Stoch is over 80 and the price dropping from the 1st resistance, we have a bearish bias that the price may drop from the pivot at 8.945, which is in line with the 23.6% fibonacci retracement and overlap resistance to the 1st support at 8.460, which is in line with the 50% fibonacci retracement and overlap support.
Alternative scenario: Alternatively, price could break pivot structure and rise to 1st resistance at 9.255 where the pullback resistance is.
Fundamentals: No major news.
Resistance : 9.250
Pivot: 8.945
Support : 8.495
Preferred Case: On the H4, with the Stoch is over 80 and the price dropping from the 1st resistance, we have a bearish bias that the price may drop from the pivot at 8.945, which is in line with the 23.6% fibonacci retracement and overlap resistance to the 1st support at 8.460, which is in line with the 50% fibonacci retracement and overlap support.
Alternative scenario: Alternatively, price could break pivot structure and rise to 1st resistance at 9.255 where the pullback resistance is.
Fundamentals: 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
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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.