Type: Bearish ReversalKey Levels:Resistance: 7145Pivot: 7064Support: 6933Preferred Case:With price moving below the Ichimoku cloud, we have a bearish bias that price will drop to our 1st support at 6933 in line with the 61.8% Fibonacci projection and horizontal swing low support from our pivot at 7064 in line with the horizontal overlap resistance. Alternative Scenario:Alternatively, price may break pivot and head for 1st resistance at 7145 in line with the 78.6% Fibonacci retracement.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/asx-h4-i-potential-bearish-drop"
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