Price didn’t trigger our bearish
scenario yesterday and instead rallied to a strong area of resistance at 15912 ( Fibonacci retracement
, horizontal overlap resistance, Fibonacci extension
) and a strong reaction could occur at this level to drive price down towards 12923 support ( Fibonacci extension
, horizontal swing low support). Our next major level of resistance is at 17436 ( Fibonacci retracement
, horizontal swing high resistance).
(34,5,3) is seeing major resistance below 99%.
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