Prices are facing bearish pressure from descending trendline resistance as well as pivot which coincides with 127.2% Fibonacci retracement. Prices might push down further to 1st support level which coincides with 127.2% Fibonacci retracement and 127.2% Fibonacci extension. If prices break through pivot and the descending trendline, prices might push up to 1st resistance where it coincides with 50% Fibonacci retracement. Ichimoku cloud is also above prices, showing bearish pressure on 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.