Price didn’t trigger our bearish scenario yesterday and instead rallied to a strong area of resistance at 15912 (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension) and a strong reaction could occur at this level to drive price down towards 12923 support (Fibonacci extension, horizontal swing low support). Our next major level of resistance is at 17436 (Fibonacci retracement, horizontal swing high resistance).
Stochastic (34,5,3) is seeing major resistance below 99%.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (34,5,3) is seeing major resistance below 99%.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results