Preference:
We can see that price is abiding to the descending trendline resistance, signifying a bearish momentum. However, we can expect price to make a small retracement and bounce from pivot in line with 61.8% Fibonacci projection towards the 1st Resistance in line with 61.8% Fibonacci projection and 61.8% Fibonacci retracement.
Alternative Scenario:
Alternatively, price could push further down to 1st Support in line with 78.6% Fibonacci projection.
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