Prices are facing bearish pressure from horizontal swing high resistance which is in line with 100% Fibonacci extension and 61.8% Fibonacci retracement as well as descending trendline resistance. Prices might push down further to 1st support which is a horizontal swing low support in line with 127.2% FIbonacci retracement and 127.2% FIbonacci extension. If prices push up further, prices might face resistance from 161.8% FIbonacci retracement and 127,2% Fibonacci extension. Ichimoku cloud is also above prices, showing a bearish pressure for prices.
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.