Type: Bearish Momentum
Resistance: 3907.96
Pivot: 3650.02
Support: 3220.89
Preferred Case: On H4, with the price moving below the ichimoku cloud and descending trend, we have a bearish bias that the price may drop from the pivot at 3650.02, where the previous swing low sits to the 1st support at 3220.89, where the 161.8% extension sits.
Alternative scenario: Alternatively, price may bounce back to the resistance level at 3907.96
Fundamentals: No major news
Resistance: 3907.96
Pivot: 3650.02
Support: 3220.89
Preferred Case: On H4, with the price moving below the ichimoku cloud and descending trend, we have a bearish bias that the price may drop from the pivot at 3650.02, where the previous swing low sits to the 1st support at 3220.89, where the 161.8% extension sits.
Alternative scenario: Alternatively, price may bounce back to the resistance level at 3907.96
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
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.