Price is facing bullish pressure from 1st support level which is a horizontal swing low support, in line with 61.8% fibonacci retracement and 50% fibonacci extension level. Price might bounce up from 1st support to the 1st resistance which coincides with the 78.6% fibonacci retracement. If prices fall through 1st support and the ascending trendline support, it might reach 2nd support level which is the next horizontal swing low resistance, in line with the 78.6% fibonacci extension.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.