Price is approaching our first support (61.8% Fibonacci extension,50% Fibonacci retracement, Horizontal swing low support) where a strong bounce might occur pushing the price up to our major resistance (Horizontal swing high resistance, 61.8% Fibonacci extension). Stochastics also showing support. 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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