Bearish Reversal

Key Levels:
Resistance: 82.421
Pivot: 81.978
Support: 80.876

Preferred Case:
Prices are on bearish momentum and abiding to a descending trendline. We see potential for a dip from our Pivot at 81.978 in line with 38.2% Fibonacci retracement and 127.2% Fibonacci extension towards our 1st support at 80.876 in line with 61.8% Fibonacci retracement. Prices are trading below our Ichimoku cloud, further supporting our bearish bias.

Alternative Scenario:
Alternatively, prices may climb towards our 1st resistance at 82.421 in line with 50% Fibonacci retracement.