Type : Bullish Bounce
Resistance : 2647
Pivot: 2558
Support : 2502
Preferred case: We see the potential for bullish bounce from our Pivot level at 2558 in line 50% Fibonacci retracement towards our 1st resistance level at 2647 in line with 78.6% Fibonacci retracement and 78.6% Fibonacci projection. Our bullish bias is supported by price trading above the Ichimoku cloud indicator.
Alternative scenario: If price continues to dip towards our 1st support level at 2502 in line with 78.6% Fibonacci retracement and 61.8% Fibonacci projection.
Fundamentals: No Major News.
Resistance : 2647
Pivot: 2558
Support : 2502
Preferred case: We see the potential for bullish bounce from our Pivot level at 2558 in line 50% Fibonacci retracement towards our 1st resistance level at 2647 in line with 78.6% Fibonacci retracement and 78.6% Fibonacci projection. Our bullish bias is supported by price trading above the Ichimoku cloud indicator.
Alternative scenario: If price continues to dip towards our 1st support level at 2502 in line with 78.6% Fibonacci retracement and 61.8% Fibonacci projection.
Fundamentals: No Major News.