Price is facing bullish pressure as it continues to hold above both the ascending trendline and moving average support, in line with our bullish bias. We could potentially see a bounce at our 1st support level at 83.375, which is in line with our 23.6%, 38.2% Fibonacci retracement levels and 61.8% Fibonacci extension, and a further rise towards our 1st resistance level at 84.324, which is in line with our 78.6% Fibonacci retracement and 127.2% Fibonacci extension levels.

Trading Recommendation

Entry: 83.375

Reason for Entry:

23.6%, 38.2% Fibonacci retracement, 61.8% Fibonacci extension and horizontal swing low support

Take Profit: 84.324

Reason for Take Profit:

78.6% Fibonacci retracement, 127.2% Fibonacci extension and horizontal pullback resistance

Stop Loss: 82.691

Reason for Stop Loss:

61.8% Fibonacci retracement and horizontal swing low support