broke out of our ascending support-turned-resistance line and reacted off our first resistance at 83.31 (horizontal overlap resistance, 23.6% Fibonacci retracement
). A strong reaction might occur below this level, pushing price down to our major support at 82.66 (horizontal overlap support, 38.2% Fibonacci retracement
). Ichimoku cloud
is also showing signs of bearish
pressure, in line with our bearish
(89) is also seeing a bearish
exit and might be a good precursor for a further potential drop in price.
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Losses can exceed the initial investment so please ensure you fully understand the risks.