Preference:

Prices is on bullish momentum and abiding to our ascending trendline. We see potential for a bounce from our Pivot at 1782.659 which is an area of Fibonacci confluences towards our 1st resistance at 1811.937 in line with 38.2% Fibonacci retracement.

Alternative Scenario:

Alternatively, prices may dip towards our 1st support at 1771.62 in line with 100% and 127.2% 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.