Preference:

Prices are consolidating in a bullish channel. We see potential for prices to dip from our Pivot at 16024 in line with 100%, 127.2% and 127.2% Fibonacci extension towards our 1st support at 15769.17 in line with 50% and 23.6% Fibonacci retracement.

Alternative Scenario:

Alternatively, prices may climb towards our 1st resistance at 16385.45 in line with 161.8% and 127.2% Fibonacci extension.

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