Type : Bullish Bounce Resistance : 758'6 Pivot: 738'0 Support : 716'0
Preferred Case: Price is near pivot level of 738'0 in line with 38.2% Fibonacci retracement and 61.8% Fibonacci projection. Price can potentially rise up to the 1st resistance level at 758'6, in line with 161.8% Fibonacci extension. Our bullish bias is further supported by price trading above the Ichimoku cloud indicator.
Alternative scenario: Price might also dip towards the 1st support level of 716'0 in line with 100% Fibonacci projection and 61.8% Fibonacci retracement.