Bearish Reversal

Key Levels:
Resistance: 59497.18
Pivot: 57728.9
Support: 53640.24

Preferred Case:
Price is reacting in between the descending channel, signifying overall bearish momentum. We can expect price to drop from pivot level in line with 78.6% Fibonacci retracement and 127.2% Fibonacci projection towards 1st Support in line with 78.6% Fibonacci projection and overall graphical support.

Alternative Scenario:
Alternatively, price could push upwards to the 1st Resistance in line with 161.8% Fibonacci projection.