On the H4, with price breaking the bullish trendline, we have a bearish bias that price may drop from our 1st support at 21639.42, which is in line with the overlap resistance and 50% fibonacci retracement to 2nd support at 20794.61 where is in line with the 61.8% fibonacci retracement. Alternatively, the price may rise to 1st resistance at 23090.36, which is in line with swing high.
Trading Recommendation
Entry: 21639.42
Reason for Entry:Overlap resistance and 50% fibonacci retracement
Take Profit: 20794.61
Reason for Take Profit: 61.8% fibonacci retracement
Stop Loss: 23090.36
Reason for Stop Loss:
Swing high
