Bullish Rise

Key Levels:
Resistance: 1218'0
Pivot: 1182'4
Support: 1164'6

Preferred Case:
With MACD following a bullish momentum and price breakout from the descending trendline, we have a bullish bias that price will rise to our 1st resistance at 1218'0 in line with the horizontal overlap resistance and 38.2% Fibonacci retracement from our pivot at 1182'4 in line with the overlap support.

Alternative Scenario:
Alternatively, price may break pivot structure and head for 1st support at 1164'6 in line with the 61.8% Fibonacci retracement and horizontal swing low support.

No Major News