Price is approaching our first support at 149.704 which is in line with 141.4% Fibonacci extension . It could potentially bounce from first support and rise further to first resistance at 153.442 in line with our 50% Fibonacci extension and 100% Fibonacci retracement. Otherwise price may continue to bearish to 2nd support at 148.469 in line with Horizontal swing low.
Trading Recommendation
Entry: 149.704
Reason for Entry:
141.4% Fibonacci extension
Take Profit: 153.442
Reason for Take Profit:
50% Fibonacci extension and 100% Fibonacci retracement.
Stop Loss: 148.469
Reason for Stop Loss:
Horizontal Swing Low