Price is bouncing from our poivot point in line with 61.8% Fibonaci retracmenet and 78.6% Fibonacci extension where we may see a push towards the 1st resistance in line with -27.2% Fibonacci retracement and 78.6% Fiboancci extension. If prices fails to hold above the pivot,m we may see a swing down towards the 1st support in line with 127.2% Fiboancci retracement.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.