Bearish Dip

Key Levels:
Resistance: 20.69
Pivot: 20.36
Support: 19.86

Preferred Case:
We see the potential for a bearish dip from our pivot at 20.36 in line with Fibonacci extension towards our 1st support at 19.86 in line with 38.2% Fibonacci retracement and 78.6% Fibonacci projection. Our bearish bias is supported by the stochastic indicator where price is trading at resistance level.

Alternative Scenario:
Alternatively, price may break our pivot structure and head for 1st resistance at 20.69 in line with 161.8% Fibonacci extension.

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