Preferred Case: On H4, as the price moving below ichimoku cloud and descending channel , we have a bearish bias that the price may drop from the pivot at 853'1. which is in line with the overlap resistance and 23.6% fibonacci retracement to the 1st support at 781'4 where the 78.6% fibonacci retracement is.
Alternative scenario: Alternatively, the price may rise to the 1st resistance at 904'1, which is in line with the 61.8% fibonacci retracement .
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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