Preferred Case:

Price is at the pivot where we may potentially see a bounce towards 1st resistance, in-line with 78.6% Fibonacci retracement and 78.6% Fibonacci extension

Alternative Case:

If Price Drops From The Pivot, We May See It Swing Towards 1st Support, In-Line With 61.8% Fibonacci Retracement And 61.8% Fibonacci Extension

Improve Your Trading

Did you know that SuperTrader Markets has a VIP room where you can learn to trade from a team of award-winning analysts?

Check out our exclusive Live Trading Room where you can ask questions directly to a team of CFA, CMT, CFTe accredited analysts.