Bullish Bounce

Key Levels:
Resistance: 53677.02
Pivot: 49465.84
Support: 47378.88

Preferred Case:
Price is abiding to the descending trendline resistance. However, we can expect price to bounce from pivot level in line with 38.2% Fibonacci retracement towards 1st Resistance in line with 161.8% Fibonacci projection and 61.8% Fibonacci retracement.

Alternative Scenario:
Alternatively, price could push further down from pivot level to 1st Support in line with 50% Fibonacci retracement.