Price is facing bearish pressure from the first resistance level, in line with 61.8% fib retracement and descending trendline resistance where we could see a drop to our support level where the 50% fib retracement and horizontal swing low support are. Stochastics is also showing that more bearishness is possible.
Trading Recommendation
Entry: 77.41
Reason for Entry:
61.8% fib retracement , descending trendline resistance
Take Profit :76.94
Reason for Take Profit:
50% fib retracement, horizontal swing low support
Stop Loss: 77.71
Reason for Stop loss:
Horizontal swing high
