Preference:
Price abiding to a descending trendline signifying a bearish momentum. We can expect price to drop from the pivot level in line with 78.6% Fibonacci projection towards 1st Support in line with 61.8% Fibonacci projection and 38.2% Fibonacci retracement.
Alternative Scenario:
Alternatively, price can push pass up towards the 1st resistance in line with 127.2 % Fibonacci projection.
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