Price is facing bullish pressure from our first support and ascending trend line where we could see a bounce above this level to our first resistance target. Ichimoku cloud is showing signs of bullish pressure as well, in line with our bullish bias.
Reason for Entry:
Ascending trend line, horizontal overlap support, 38.2%, 61.8% fibonacci retracement, 61.8% fibonacci extension
Take Profit: 75.043
Horizontal overlap resistance, 50% fibonacci retracement
Stop Loss: 74.151
Reason for Stop Loss:
78.6% fibonacci extension, 78.6% fibonacci retracement
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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