This market is now making a strong move higher into the important daily resistance level.
Whilst we could expect to see some resistance at this level, if price breaks it, then it could open the door to a much larger move higher.
This level is pretty significant because if it breaks, then it would see price move into a new six monthly high. This level is also almost bang on the 61% Fibonacci retracement point from when price started selling off at the start of the year.
This presents as a major watch in the coming sessions.
Whilst we could expect to see some resistance at this level, if price breaks it, then it could open the door to a much larger move higher.
This level is pretty significant because if it breaks, then it would see price move into a new six monthly high. This level is also almost bang on the 61% Fibonacci retracement point from when price started selling off at the start of the year.
This presents as a major watch in the coming sessions.
