Type: Bearish Reversal
Resistance : 19.89
Pivot: 19.57
Support : 19.09
Preferred case: Price is approaching our pivot level of 19.57 in line with 138.2% Fibonacci extension and 78.6% Fibonacci retracement. We see the potential for a bearish reversal towards our 1st support level of 19.09 in line with 38.2% Fibonacci retracement. Our bearish bias is further supported by the stochastic indicator where price is trading at the resistance level.
Alternative scenario: Otherwise, price could potentially go to the 1st resistance level at 19.89 which is in line with 161.8% Fibonacci extension and 61.8% Fibonacci projection.
Fundamentals: No major news.
Resistance : 19.89
Pivot: 19.57
Support : 19.09
Preferred case: Price is approaching our pivot level of 19.57 in line with 138.2% Fibonacci extension and 78.6% Fibonacci retracement. We see the potential for a bearish reversal towards our 1st support level of 19.09 in line with 38.2% Fibonacci retracement. Our bearish bias is further supported by the stochastic indicator where price is trading at the resistance level.
Alternative scenario: Otherwise, price could potentially go to the 1st resistance level at 19.89 which is in line with 161.8% Fibonacci extension and 61.8% Fibonacci projection.
Fundamentals: No major news.
Disclaimer
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.
Disclaimer
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.