Price is approaching 1st support, in line with 61.8% Fibonacci retracement, 61.8% Fibonacci extension and horizontal overlap support, where we could potentially see a bounce and further rise up to 1st resistance, in line with 78.6% Fibonacci retracement, 78.6% Fibonacci extension and horizontal swing high resistance. Price is also holding above the Ichimoku cloud and ascending trendline support, showing bullish pressure in line with our bullish bias.
Trading Recommendation
Entry: 84.500
Reason for Entry:
61.8% Fibonacci retracement, 61.8% Fibonacci extension and horizontal overlap support
Take Profit: 84.854
Reason for Take Profit:
78.6% Fibonacci retracement, 78.6% Fibonacci extension and horizontal swing high resistance
Stop Loss: 84.362
Reason for Stop Loss:
78.6% Fibonacci extension and horizontal swing low support
