Price is facing bearish pressure from our 1st resistance where the horizontal swing high lines up with the 61.8% fib extension. We could see a further drop towards 1st support at 77.10 at the horizontal swing low. MACD is also indicating more bearishness to come.
Trading Recommendation
Entry: 77.93
Reason for Entry:
horizontal swing high, the 61.8% fib extension
Take Profit :77.10
Reason for Take Profit: Horizontal swing low
Stop Loss: 78.67
Reason for Stop loss:
100% fib extension
