Preference:

Prices are on a bullish momentum. We see potential for a bounce from our Pivot at 4416.64 in line with 61.8% and 50% Fibonacci retracement towards 1st resistance at 4635.19 in line with 100% Fibonacci extension.

Alternative Scenario:

Alternatively, prices might dip towards our 1st support at 1232.09 in line with 78.6% Fibonacci retracement.

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