Type:
Bearish Breakout
Preference:
Price has recently broke our Pivot at 14803.15 in line with 127.2% Fibonacci Projection. Price has the potential to dip even further to 1st support at 14600 in line with 161.8% Fibonacci Projection.
Alternative Scenario:
Alternatively, prices may climb to our area of 1st resistance at our big 15000 in line with bearish trendline and graphical swing low.
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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.