Prices are facing bullish pressure from ascending trendline support in line with horizontal swing low support, 61.8% Fibonacci retracement and 61.8% Fibonacci extension. Prices might push up towards horizontal swing high resistance in line with 127.2% Fibonacci extension and 78.6% Fibonacci retracement. If prices push down further, prices might take support on 2nd support in line with horizontal swing low support, 61.8% FIbonacci retracement and 100% Fibonacci extension. Stochastics is also facing bullish pressure as it approaches 27.02 support level.
Trading Recommendation
Entry: 1896.280
Reason for Entry:
Horizontal swing low support, ascending trendline support, 61.8% Fibonacci retracement, 61.8% Fibonacci extension
Take Profit: 1912.045
Reason for Take Profit:
Horizontal swing high resistance, 127.2% Fibonacci extension, 78.6% Fibonacci retracement
Stop Loss: 1887.970
Reason for Stop Loss:
Horizontal swing low support, 100% Fibonacci extension, 61.8% Fibonacci retracement