The ym may establish a retracement. Price is currently at a 1.5 fib level along with being at the top of a channel.
If price falls, price may retrace to the pivot low ( described on the chart). Which then may lead to a sell opportunity at the 17370-17700 level, and maybe fall to a support level at the 14450 area.At the 14450 price level rests a middle channel trendline ( yellow dashed line), a prior resistance ( horizontal dashed blue line), along with a 1.618 fib level ( red horizontal line).
If price falls, price may retrace to the pivot low ( described on the chart). Which then may lead to a sell opportunity at the 17370-17700 level, and maybe fall to a support level at the 14450 area.At the 14450 price level rests a middle channel trendline ( yellow dashed line), a prior resistance ( horizontal dashed blue line), along with a 1.618 fib level ( red horizontal line).