We are seeing a medium-probability bullish scenario as price is approaching our first support level at 48.54 where -27%, 61.8% fibonacci retracement and horizontal graphical overlap is. Price could make a bounce towards the first resistance level at 48.88. It’s worth noting that the Stochastic is showing bullish pressure where price has reacted off the 15% level previously.
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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
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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.