Price reversed off our first resistance (horizontal pullback resistance, 61.8% Fibonacci extension, 23.6%Fibonacci retracement) where a strong drop might occur to our first support level (horizontal swing low support, 100% Fibonacci extension). Stochastic is also approaching resistance where we might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.