Price is testing our first resistance at 26619 61.8% fibonacci retracement, 61.8% fibonacci extension, horizontal swing high resistance) where a strong drop might occur pushing price down to our major support at 25562 78.6%, 61.8% fibonacci retracement, 61.8% fibonacci extension, horizontal swing low support).
Stochastic (34,5,3) is also approaching resistance where we might see a corresonding drop at this level.
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 also approaching resistance where we might see a corresonding drop at this level.
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