Bearish Reversal

Key Levels:
Resistance: 1697'4
Pivot: 1680'0
Support: 1652'4

Preferred Case:
We see the potential for a bearish reversal from our pivot at 1680'0 in line with 61.8% Fibonacci projection and 78.6% Fibonacci retracement towards our 1st support at 1652'4 in line with 38.2% Fibonacci retracement and 61.8% Fibonacci projection. Our bearish bias is supported by the RSI indicator being at levels where reversal previously occurred.

Alternative Scenario:
Alternatively, price may break our pivot structure and head for 1st resistance at 1697'4 in line with a graphical swing high.

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