Type: Bullish MomentumKey Levels:Resistance: 62941Pivot: 62243Support: 61634Preferred Case:On the H4, price is moving above the ichimoku cloud and within the ascending trendline which supports bullish bias that price will rise from our pivot at 26610 in line with the 38.2% fibonacci retracement to the resistance at 27740 in line with the 78.6% fibonacci retracement and swing high. Additionally, the presence of bullish pressure shown on the MACD indicator further supports our bullish bias.Alternative Scenario:Price may reverse and break the pivot and drop to our support level at 25660 in line with the 78.6% fibonacci projection .Fundamentals:No major news.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/nikkei-ose-nk2251-h4-potential-for-bullish-momentum"
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