Price continues to face bullish pressure from our first support level at 1817.72, in line with our 78.6% Fibonacci extension, 50% Fibonacci retracement and horizontal pullback support, where we could see a potential further rise up to our first resistance level at 1875.34, which is in line with our 50% Fibonacci extension, 78.6% Fibonacci retracement and horizontal swing high resistance. It is worth noting that price has just crossed above EMA (55), showing bullish pressure in line with our analysis.
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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