Price is approaching 1st support, in line with 78.6% Fibonacci retracement, 78.6% Fibonacci extension, horizontal swing low support and ascending trendline support. We could see a bounce here and further rise up towards 1st resistance, in line with 78.6% Fibonacci extension and horizontal swing high resistance. Stochastics has also bounced from the lower support where price has bounced in the past as well.
Trading Recommendation
Entry: 154.729
Reason for Entry:
78.6% Fibonacci retracement, 78.6% Fibonacci extension, horizontal swing low support and ascending trendline support
Take Profit: 155.378
Reason for Take Profit:
78.6% Fibonacci extension and horizontal swing high resistance
Stop Loss: 154.323
Reason for Stop Loss:
127.2% Fibonacci retracement, 100% Fibonacci extension and horizontal swing low support
