Price is facing bearish pressure as it continues to hold below the descending trendline and moving average resistances, in line with our bearish bias. We could potentially see a reversal at 1st resistance in line with 61.8% Fibonacci retracement, 78.6% Fibonacci extension and horizontal swing high resistance, and further downside towards 1st support, in line with 61.8% Fibonacci extension and horizontal swing low support.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.