Support indicated by the organge boxes, which repesent fib retracements for 0.382 and 0.618 levels on multiple intervals.
Heavy resistance is expected above 8700.
A straight prediction for the next significant move is pure guesswork at this level. Possible best option is to wait for the market to decide and observe the price action in between the indicated levels. I would stay out of big trades at the moment.
You can hedge positions for both buy and sell, but I would start with small initial amounts, and cover them with more entries.
Heavy resistance is expected above 8700.
A straight prediction for the next significant move is pure guesswork at this level. Possible best option is to wait for the market to decide and observe the price action in between the indicated levels. I would stay out of big trades at the moment.
You can hedge positions for both buy and sell, but I would start with small initial amounts, and cover them with more entries.
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Looks like a decision is in the making:
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