Bearish Drop

Key Levels:
Resistance: 59415.26
Pivot: 58168.4
Support: 55983.87

Preferred Case:

Price is abiding to the descending channel, signifying a bearish momentum. We can expect price to continue to drop from the pivot point in line with 38.2% Fibonacci retracement towards 1st Support in line with 78.6% Fibonacci projection.

Alternative Scenario:

Alternatively, price can push up to 1st Resistance in line with 38.2 % Fibonacci retracement and 161.8% Fibonacci projection.