Type: Bullish BounceKey Levels:Resistance: 7300.27Pivot: 7192.63Support: 7104.65Preferred Case:On the H4, with prices moving above the ichimoku cloud, we have a bullish bias that price will rise from the pivot level at 7192.63 in line with the 23.6% fibonacci retracement to the 1st resistance at 7300.27 in line with the swing highAlternative Scenario:Price may reverse off the pivot and drop to the 1st support at 7104.65 in line with the 50% fibonacci retracement.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/asx-h4-or-potential-bullish-momentum"
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