Preference:
Price is abiding to the descending trendline resistance, signifying bearish momentum. We can expect price to drop from pivot in line with 127.2% Fibonacci projection and 61.8% Fibonacci retracement to 1st Support in line with 61.8% Fibonacci projection.
Alternative Scenario:
Alternatively, price could push up to 1st resistance in line with 161.8% Fibonacci projection and 78.6% Fibonacci retracement.
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