Price is testing our Pivot, in line with 23.6% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap. where we may see a rise towards the 1st resistance in line with -27% fibonacci retracement and horizontal swing high . If price fails to hold above the Pivot, we may see a swing down towards the 1st support level, in line with 61.8% fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap.
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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.