On the M30 time frame, prices are approaching the resistance zone at 1852.00, in line with the 50% Fibonacci retracement, descending channel’s resistance and 78.6% Fibonacci extension. A pullback to this zone presents an opportunity to play the drop to the support zone at 1832.00, in line with the graphical low Prices are holding below the Ichimoku cloud, and stochastic is approaching resistance at 89.24, supporting the bearish bias.
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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.