Price is testing the pivot where we could potentially see a bounce towards the 1st horizontal overlap resistance in-line with 23.6% and 50% Fibonacci retracement.If price fails to bounce at the pivot, we may see it swing towards 1st support, in line in-line with 61.8% Fibonacci extension and horizontal overlap support
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.