Preference:

Prices are on bullish momentum and abiding to our daily ascending trendline. We see the potential for a bounce from our Pivot at 1798.292 in line with 23.6% Fibonacci retracement towards our 1st resistance at 1815.506 in line with 161.8% Fibonacci projection and 161.8% Fibonacci extension.

Alternative Scenario:

Alternatively, prices may dip further towards our 1st support at 1791.09 in line with 38.2% 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.