Preference:
Price is abiding to a descending trendline resistance, signifying a bearish momentum. We can expect price to drop from the pivot level in line with 38.2% Fibonacci retracement towards the 1st Support in line with 61.8% Fibonacci projection.
Alternative Scenario:
Alternatively, price might push upwards to the 1st resistance in line with 50% Fibonacci retracement and 61.8% Fibonacci projection.
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