Prices have broken the descending trendline resistance and are facing bullish pressure from 50% Fibonacci retracement and 50% Fibonacci extension. Prices might push up towards 1st resistance which is a swing high resistance, in line with 161.8% Fibonacci retracement and 50% Fibonacci extension. If prices push lower, prices might take support from horizontal swing low support, in line with 50% Fibonacci retracement. EMA is also below prices, showing a bullish 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.