Type:

Bearish Reversal

Resistance: 15731.44

Support: 15446.18

Pivot: 15606.47

Preference:

Price have approached our Pivot at 15606.47 which is a graphical overlap to retest our descending trendline and has the potential to dip to our 1st support at 15446.18 in line with 23.6% Fibonacci retracement.

Alternative Scenario:

Alternatively, prices might climb higher towards our 1st resistance at 15731.44 in line with 161.8% Fibonacci extension.