Price is testing our first support in line with our ascending channel, horizontal overlap support, 78.6% fibonacci extension and 23.6% fibonacci retracement where we could see a bounce above this level. Ichimoku cloud is showing signs of bullish pressure as well, in line with our bullish bias.
Reason for Entry:
ascending channel, horizontal overlap support, 78.6% fibonacci extension and 23.6% fibonacci retracement
Take Profit: 74.903
Reason for Take Profit:
horizontal swing high resistance
Stop Loss: 74.386
Reason for Stop Loss:
horizontal swing low support, 38.2% 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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