Potential Bullish Momentum

25 mai 2022

On the H1, price is moving above the ichimoku cloud within the ascending trend channel and is above the ichimoku cloud and supports our bullish bias that price will bounce off the pivot at 61328 in line with the confluence area with 50% fibonnaci retracement, 23.6% fibonacci retracment and 78.6% fibonacci projection , to the 1st overlap resistance at 62005 in line with the 61.8% fibonacci retracement . Alternatively, price may break the pivot levle and drop to the 1st support at 61328 in line with 50% fibonacci retracement and swing low.