BCOUSD made a bullish exit from its descending resistance line!

BCOUSD has made a bullish exit from its descending resistance turned support line where it could potentially rise to its major resistance at 76.44 (50% Fibonacci retracement, horizontal overlap resistance) after bouncing off its support at 75.20 (horizontal overlap support).
RSI (89) has made a bullish exit from its descending channel and the ichimoku cloud shows signs of downward pressure which contributes to our bearish bias.

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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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