Bullish Rise

Key Levels:
Resistance: 1795.1
Pivot: 1700.5
Support: 1659.8

Preferred Case:
On the H4, with price moving in an ascending trendline, we have a bullish bias that price will rise from the pivot at 1700.5 at the overlap support in line with the 61.8% fibonacci retracement to the resistance at the swing high at 1795.1 in line with the pullback resistance and 50% fibonacci retracement and 78.6% fibonacci projection .

Alternative Scenario:
Alternatively, price may break support structure at the pivot and drop to the support at 1659.8 in line with the 61.8% fibonacci projection .

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