Type

Bearish Reversal

Support: 40604.49

Resistance: 44389.41

Pivot: 30079.23

Preference

We can expect price to reverse back down from the pivot level in line with 50% Fibonacci retracement and 61.8% Fibonacci Projection to the 1st support in line with 78.6 % Fibonacci projection and 78.6% Fibonacci retracement.

Alternative Scenario:

Alternatively, price might continue to push upwards towards the 1st resistance in line with 78.6% Fibonacci retracement and 61.8% Fibonacci projection