Type:
Bearish Reversal
Key Levels:
Resistance: 91.268
Pivot: 90.827
Support: 90.139
Preferred Case:
With divergence spotted on RSI, we would expect a pullback from our Pivot at 90.827 in line with 50% Fibonacci retracement towards our 1st support at 90.139 which is an area of Fibonacci confluences.
Alternative Scenario:
Alternatively, prices may climb towards our 1st resistance at 91.268 in line with 100% Fibonacci retracement.
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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.