Price is holding above the ascending trendline support, price is expected to rally upwards towards the resistance in line with the 78.6% Fibonacci extension from the pivot level in line with the 38.2% Fibonacci retracement level . Our bullish bias is further supported by the stochastic chart approaching the strong support which would potentially bounce off and lead on a bullish momentum.
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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.