The price continues to whipsaw and continues to be testing our major support level at 86.58 (Fibonacci extension, long-term Fibonacci retracement, fake horizontal breakout). We look to buy above this level for a corrective bounce to at least 87.21 resistance (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance, bullish divergence).
Stochastic (89,3,1) is seeing strong support above 1.2% and also sees bullish divergence vs price signaling that a bounce is impending.
Buy above 86.58. Stop loss is at 86.26. Take profit is at 87.21.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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