Price is approaching our first resistance, in line with our horizontal overlap resistance level, 38.2% fibonacci retracement and 61.8% fibonacci extension where we could see a reversal below this level. Ichimoku cloud is showing signs of bearish pressure as well, in line with our bearish bias. A break below our downside confirmation level could provide the bearish acceleration to our first support target.
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.