Price has just bounced from the 1st support level at 55.64, in line with our 50% Fibonacci retracement and 50% Fibonacci extension, where we could see a further rise from this level towards 1st resistance at 56.60, in line with our 50% Fibonacci extension and horizontal swing high resistance. Ichimoku cloud is also showing signs of bullish pressure in line with our bullish bias.
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.
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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