Retrace to $6900-$6700 area?
Fractal high formed this week, suggesting path of least resistance is to the downside.
A break of $10,074 would be bullish, with the next Fibonacci resistance at $11,766.93
Otherwise, it looks bearish with supports at: $8605.14, $7696.43, $6962, $6227.57, $5318.86 and $3850.
Yellow line shows important fractal level on the daily timeframe and should be an important support level.
Break below $8605.14 should see move to $6900-$6700 area.
A break of $10,074 would be bullish, with the next Fibonacci resistance at $11,766.93
Otherwise, it looks bearish with supports at: $8605.14, $7696.43, $6962, $6227.57, $5318.86 and $3850.
Yellow line shows important fractal level on the daily timeframe and should be an important support level.
Break below $8605.14 should see move to $6900-$6700 area.
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