Price is rising towards an overlap resistance zone which also aligns with the 38.2% Fibonacci retracement.
As you can see, the Stochastic indicator is also in the overbought territory
I believe a rejection from this level could lead the price to drop towards thesupport level.
As you can see, the Stochastic indicator is also in the overbought territory
I believe a rejection from this level could lead the price to drop towards thesupport level.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.