Price has broken out of our resistance-turned-support at 82.60 (horizontal swing high resistance, 50% Fibonacci retracement) and a strong rally might occur, pushing price up to our major resistance at 83.55 (horizontal overlap resistance, 100% Fibonacci extension, 76.4% Fibonacci retracement).
RSI (55) is also approaching our long term descending resistance line and a breakout above this level might be a good precursor for further potential rise in price.
Losses can exceed the initial investment so please ensure you fully understand the risks Trading CFDs on margin carries high risk.
RSI (55) is also approaching our long term descending resistance line and a breakout above this level might be a good precursor for further potential rise in price.
Losses can exceed the initial investment so please ensure you fully understand the risks Trading CFDs on margin carries high risk.
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