Type Bearish Reversal

Pivot: 63679.07

Resistance: 66781.83

Support: 59497.32

Preference:

Price broke out of an ascending trendline, signifying a bearish momentum. We can expect price to drop from the pivot level in line with 61.8% Fibonacci retracement and 61.8% Fibonacci projection towards the 1st Support level in line with 61.8% Fibonacci projection.

Alternative Scenario:

Alternatively, price could push all the way up to the 1st Resistance in line with 100% Fibonacci projection.