Prices are facing bearish pressure from 1st resistance which is our horizontal swing high resistance, in line with 78.6% fibonacci retracement and -27.2% fibonacci retracement. Prices might push down towards 1st support which is our horizontal swing low support in line with 38.2% fibonacci retracement and 78.6% fibonacci extension. If prices break through the descending trend line and 1st resistance, prices might face resistance from horizontal swing high resistance in line with 127.2% fibonacci retracement and 50% fibonacci extension. EMA is also above prices, showing bearish pressure.
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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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.