Bearish Drop

Key Levels:
Resistance: 1652'0
Pivot: 1623'6
Support: 1580'0

Preferred Case:
With price moving below the Ichimoku cloud, we see the potential for bearish drop from our Pivot level at 1623'6 in line 23.6% Fibonacci retracement towards our 1st support level at 1580'0 in line with the daily horizontal swing low support and 161.8% Fibonacci extension.

Alternative Scenario:
If price breaks out, it can potentially move towards our 1st resistance level at 1652'0 which is in line with 61.8% Fibonacci retracement and horizontal pullback resistance.

No major news.