Preference:

Prices are potentially consolidating in a inverse head-and-shoulders. We see potential for a short pullback from our Pivot at 35899.74 in line with 127.2% Fibonacci extension, 78.6% and 50% Fibonacci retracement towards our 1st support at 35778.15 in line with 38.2% and 38.2% Fibonacci retracement.

Alternative Scenario:

Alternatively, prices may climb towards our 1st resistance at 36053.98 in line with 161.8% Fibonacci projection, 161.8% Fibonacci extension and 100% Fibonacci extension.

 

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