Type:
Bullish Bounce
Key Levels:
Resistance: 15049
Pivot: 14363
Support: 14200
Preferred Case:
Prices are at a pivot. We see the potential for bounce from our Pivot at 14363 in line with 23.6% Fibonacci retracement towards our 1st resistance at 15049 which is an area of Fibonacci confluences.
Alternative Scenario:
Alternatively, prices may dip towards our 1st support at 14200 in line with 161.8% Fibonacci Projection.
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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.