Price has recently broken through a key support level and near pivot level of 12949 in line with 161.8% Fibonacci projection . Price can potentially rise to our resistance at 13673 in line with the horizontal overlap resistance . Our bullish bias is supported by how price is at the support of both the descending channel and the stochastics indicator.
Alternative scenario: Price may go to 1st support level of 12767 in line with the daily support level .
Alternative scenario: Price may go to 1st support level of 12767 in line with the daily support level .
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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