on the H4, with price moving above the ichimoku cloud and within the ascending trend channel, we have a bullish bias that price will rise from the pivot at 326.7 in line with the 78.6% fibonacci projection to the overlap resistance at 354.15 in line with the 61.8% fibonacci retracement . Alternatively, price may break the support structure at the pivot and drop to the swing low and support level at 309.05 in line with the 78.6% fibonacci retracement .
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results