{"id":70494,"date":"2024-06-24T14:31:26","date_gmt":"2024-06-24T04:31:26","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=70494"},"modified":"2024-06-24T14:31:28","modified_gmt":"2024-06-24T04:31:28","slug":"monday-24th-june-2024-technical-outlook-and-review","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/monday-24th-june-2024-technical-outlook-and-review\/","title":{"rendered":"Monday 24th June 2024: Technical Outlook and Review"},"content":{"rendered":"\n<h1><strong>DXY (US Dollar Index):<\/strong><\/h1>\n\n\n\n<p>Potential Direction: Bearish<br \/>Overall momentum of the chart: Bearish<br \/>Price could potentially make a bearish reaction off pivot and drop to 1st support.<\/p>\n\n\n\n<p>Pivot: 106.38<br \/>Supporting reasons: Identified as a multi-swing high resistance level, specifically at the 161.80% Fibonacci Extension and 61.80% Fibonacci Projection, indicating Fibonacci confluence.<\/p>\n\n\n\n<p>1st support: 105.15<br \/>Supporting reasons: Identified as an overlap support level, suggesting a significant area where previous declines have found support.<\/p>\n\n\n\n<p>1st resistance: 107.06<br \/>Supporting reasons: Identified as a swing high resistance level, specifically at the 100% Fibonacci Projection, indicating a historical point where previous rallies have faced selling pressure or reversed.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-us.googleusercontent.com\/docsz\/AD_4nXcQXEaUPjkZY6GXHM5KBYbyTkGuipvIJ0kirPbATv1nAmz6I9VldSHPXZp-dDPosjPUzR_tZaN9wHoGEzArsbIn932PTJx9sotHt4ILB4YDCDWetrbd3farMYD6cV89c-SR2ya6qx9DHIK_0xj1Ov1rR94n?key=EBYO3ODHD1xqElVOrlBjMg\" alt=\"\"\/><\/figure>\n\n\n\n<h1><strong>EUR\/USD:<\/strong><\/h1>\n\n\n\n<p>Potential Direction: Bullish<br \/>Overall momentum of the chart: Bearish<\/p>\n\n\n\n<p>Price could potentially make a bullish bounce off pivot and head towards 1st resistance.<\/p>\n\n\n\n<p>Pivot: 1.0674<br \/>Supporting reasons: Identified as an overlap support level, specifically at the 78.60% Fibonacci Retracement, indicating a potential area where buyers could enter the market after a retracement.<\/p>\n\n\n\n<p>1st support: 1.0534<br \/>Supporting reasons: Identified as a multi-swing low support level, suggesting historical significance where previous declines have found support.<\/p>\n\n\n\n<p>1st resistance: 1.0796<br \/>Supporting reasons: Identified as a pullback resistance level, specifically at the 50% Fibonacci Retracement, indicating a potential area where previous rallies have faced selling pressure or reversed.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-us.googleusercontent.com\/docsz\/AD_4nXczYTPKXN3HRmBVhWuKsMIt3AMi4xLNBKJzFkZXqWD64h23IhI4dqsWjRtFtrj6edTfkEOjSzRhqGl2EId9ZUVOHytK3SdWrD2MnhNQ1p4BIPAiR8ZKek_21NvLMZrjm9oyrJKMcdqRbdAABbpSWriRbqU?key=EBYO3ODHD1xqElVOrlBjMg\" alt=\"\"\/><\/figure>\n\n\n\n<h1><strong>EUR\/JPY:<\/strong><\/h1>\n\n\n\n<p>Potential Direction: Bearish<br \/>Overall momentum of the chart: Bullish<\/p>\n\n\n\n<p>Price could potentially make a bearish reaction off pivot and drop to 1st support.<\/p>\n\n\n\n<p>Pivot: 170.87<br \/>Supporting reasons: Identified as a multi-swing high resistance level, indicating a significant area where previous rallies have faced selling pressure.<\/p>\n\n\n\n<p>1st support: 168.25<br \/>Supporting reasons: Identified as an overlap support level, suggesting historical significance where previous declines have found support.<\/p>\n\n\n\n<p>1st resistance: 172.92<br \/>Supporting reasons: Identified at the 161.80% Fibonacci Extension, indicating a potential area where previous rallies could face selling pressure or reverse.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-us.googleusercontent.com\/docsz\/AD_4nXf43ZoR0XAJ1Aby5eYOCQ57luQjCjVVRVCWT-yYZEVIOKl_BN9uWS05_OL9u1BnEUjw8pkznO8_5DwMwFltsw7L_moW-k0u9RHB4-btmrPiogbhdPGAc0JJkRuTVKQkygLklSvj28pbteKqe7YQetRcau9T?key=EBYO3ODHD1xqElVOrlBjMg\" alt=\"\"\/><\/figure>\n\n\n\n<h1><strong>EUR\/GBP:<\/strong><\/h1>\n\n\n\n<p>Potential Direction: Bearish<br \/>Overall momentum of the chart: Bearish<\/p>\n\n\n\n<p>Price could potentially make a bearish reaction off pivot and drop to 1st support.<\/p>\n\n\n\n<p>Pivot: 0.8491<br \/>Supporting reasons: Identified as a pullback resistance level, indicating a potential area where previous rallies have faced selling pressure.<\/p>\n\n\n\n<p>1st support: 0.8411<br \/>Supporting reasons: Identified as a swing low support level, suggesting historical significance where previous declines have found support.<\/p>\n\n\n\n<p>1st resistance: 0.8532<br \/>Supporting reasons: Identified as an overlap resistance level, indicating a significant area where previous rallies have faced selling pressure or reversed.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-us.googleusercontent.com\/docsz\/AD_4nXdV48f_rGT3r0ZSq_PCKbK9f0u-d1Qdo0ZbteB1BbpcWLN0YdP3TAHBSV_zClyATket52dj6j0eb_34kERo1bin7xwIUfszaD-3f7mdec3-QErNDSpJUyiX6WlhpON-O9O-AwIKQVg-WvppKSXbtb1mq9y0?key=EBYO3ODHD1xqElVOrlBjMg\" alt=\"\"\/><\/figure>\n\n\n\n<h1><\/h1>\n\n\n\n<h1><strong>GBP\/USD:<\/strong><\/h1>\n\n\n\n<p>Potential Direction: Bullish<br \/>Overall momentum of the chart: Bearish<\/p>\n\n\n\n<p>Price could potentially make a bullish bounce off pivot and head towards 1st resistance.<\/p>\n\n\n\n<p>Pivot: 1.2550<br \/>Supporting reasons: Identified as a pullback support level, specifically at the 50% Fibonacci Retracement, indicating a potential area where buyers could enter the market after a retracement.<\/p>\n\n\n\n<p>1st support: 1.2378<br \/>Supporting reasons: Identified as a pullback support level, suggesting a significant area where previous declines have found support.<\/p>\n\n\n\n<p>1st resistance: 1.2718<br \/>Supporting reasons: Identified as an overlap resistance level, indicating a potential area where previous rallies have faced selling pressure or reversed.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-us.googleusercontent.com\/docsz\/AD_4nXd_dq9V6nqDLNmjTAFhp5sCzMoPjiF61tExUhK0ZOql9lRroimIuoNQTMmpjYG2Vro8VwKUTmRYUCVxPUkALvtR1lj43dE9weTUnkRZnNznNZBLTdvIMFOO5uqf6by1E0g0NfS1Al_07SMsO7a4oCpmEYvx?key=EBYO3ODHD1xqElVOrlBjMg\" alt=\"\"\/><\/figure>\n\n\n\n<h1><strong>GBP\/JPY:<\/strong><\/h1>\n\n\n\n<p>Potential Direction: Bullish<br \/>Overall momentum of the chart: Bullish<\/p>\n\n\n\n<p>Price could potentially make a bullish bounce off pivot and head towards 1st resistance.<\/p>\n\n\n\n<p>Pivot: 200.70<br \/>Supporting reasons: Identified as an overlap support level, indicating a significant area where previous declines have found support.<\/p>\n\n\n\n<p>1st support: 197.75<br \/>Supporting reasons: Identified as an overlap support level, suggesting another significant area where previous declines have found support.<\/p>\n\n\n\n<p>1st resistance: 203.28<br \/>Supporting reasons: Identified at the 161.80% Fibonacci Extension, indicating a potential area where previous rallies could face selling pressure or reverse.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-us.googleusercontent.com\/docsz\/AD_4nXcBPP0QsKVmAjecZj1G-HNgLEwDxhLEiPB0CohlFAeMerrGC77yTVTZj7K1yrFAjUwyK1wHr1RHdLuMQdID2Mo3JCjr_VeyI0PPgHk65tFWwLwO6e99zOzQF4RP8KeTAMn30tiyBT2tHtVGq5mHFbwqNjo?key=EBYO3ODHD1xqElVOrlBjMg\" alt=\"\"\/><\/figure>\n\n\n\n<h1><strong>USD\/CHF:<\/strong><\/h1>\n\n\n\n<p>Potential Direction: Bearish<br \/>Overall momentum of the chart: Bearish<\/p>\n\n\n\n<p>Price could potentially make a bearish reaction off pivot and drop to 1st support.<\/p>\n\n\n\n<p>Pivot: 0.8992<br \/>Supporting reasons: Identified as an overlap resistance level, specifically at the 50% Fibonacci Retracement, indicating a potential area where previous rallies have faced selling pressure.<\/p>\n\n\n\n<p>1st support: 0.8703<br \/>Supporting reasons: Identified as a pullback support level, specifically at the 61.80% Fibonacci Retracement, suggesting a significant area where previous declines have found support.<\/p>\n\n\n\n<p>1st resistance: 0.9158<br \/>Supporting reasons: Identified as a swing high resistance level, indicating a potential area where previous rallies have faced selling pressure or reversed.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-us.googleusercontent.com\/docsz\/AD_4nXdjYfgfFo0-EZ54RW747IZCPAUA3Zyo02d9hq8-gIdT0vO5ONHyVWZZwmBvDeIoVfaYeIFjiMzCBKDm-C991dXJXszk1Ifjclm1jqNMipYk_EaDiSK5-RFwe4NlijlusITjL3REoul6k-6aeYTREhb1Z6s?key=EBYO3ODHD1xqElVOrlBjMg\" alt=\"\"\/><\/figure>\n\n\n\n<h1><strong>USD\/JPY:<\/strong><\/h1>\n\n\n\n<p>Potential Direction: Bearish<br \/>Overall momentum of the chart: Bullish<\/p>\n\n\n\n<p>Price could potentially make a bearish reaction off pivot and drop to 1st support.<\/p>\n\n\n\n<p>Pivot: 160.22<br \/>Supporting reasons: Identified as a swing high resistance level, specifically at the 161.80% Fibonacci Extension and 100% Fibonacci Extension, indicating Fibonacci confluence.<\/p>\n\n\n\n<p>1st support: 157.64<br \/>Supporting reasons: Identified as a pullback support level, suggesting a significant area where previous declines have found support.<\/p>\n\n\n\n<p>1st resistance: 165.07<br \/>Supporting reasons: Identified at the 100% Fibonacci Projection, indicating a potential area where previous rallies could face selling pressure or reverse.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-us.googleusercontent.com\/docsz\/AD_4nXdjDBHvM5o14S_Y86EwD2tmZuG77p4jwI3xl9dveIr4--XdXVukLGNKXWqookewSY90cATrTQ6yi2tnEd3bBw5kxhPDQXU_0QJQzhOCsjU6YkdsSwDccxL_-jMro-PLdWHvimHXoAHAWFsMByioEFryoqjG?key=EBYO3ODHD1xqElVOrlBjMg\" alt=\"\"\/><\/figure>\n\n\n\n<h1><strong>USD\/CAD:<\/strong><\/h1>\n\n\n\n<p>Potential Direction: Bullish<\/p>\n\n\n\n<p>Overall momentum of the chart: Neutral<\/p>\n\n\n\n<p>Price could potentially make a bullish bounce off pivot and head towards the 1st resistance.<\/p>\n\n\n\n<p>Pivot: 1.3665<\/p>\n\n\n\n<p>Supporting reasons: Identified as a pullback support that aligns with a 61.8% Fibonacci retracement level, indicating a potential area where buying interests could pick up.<\/p>\n\n\n\n<p>1st support: 1.3595<\/p>\n\n\n\n<p>Supporting reasons: Identified as a pullback support that aligns with a 38.2% Fibonacci retracement level, suggesting historical significance where previous declines have found support.<\/p>\n\n\n\n<p>1st resistance: 1.3777<\/p>\n\n\n\n<p>Supporting reasons: Identified as a pullback resistance that aligns close to a 78.6% Fibonacci retracement level, indicating a historical point where previous rallies have faced selling pressure or reversed.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-us.googleusercontent.com\/docsz\/AD_4nXdcExLhQoWRgsbI_NJp4v1H8gQJs6A2aF49ac6y0JnHe7__iMaGN--tFy6_Kul0Mo_Co_jiLzkhnMycHZ9z9e9yIEPAeFOECUMVGuidSBvqQN78M9ZdjAiUDfEacRscS3Ee3_gRAVuBgPECFLxAhws0i3Q?key=EBYO3ODHD1xqElVOrlBjMg\" alt=\"\"\/><\/figure>\n\n\n\n<h1><strong>AUD\/USD:<\/strong><\/h1>\n\n\n\n<p>Potential Direction: Bullish<\/p>\n\n\n\n<p>Overall momentum of the chart: Neutral<\/p>\n\n\n\n<p>Price is falling towards the pivot and could potentially make a bullish bounce off this level to rise towards the 1st resistance.<\/p>\n\n\n\n<p>Pivot: 0.6572<\/p>\n\n\n\n<p>Supporting reasons: Identified as a pullback support that aligns with a 38.2% Fibonacci retracement level, indicating a potential area where buying interests could pick up.<\/p>\n\n\n\n<p>1st support: 0.6496<\/p>\n\n\n\n<p>Supporting reasons: Identified as a pullback support, suggesting historical significance where previous declines have found support.<\/p>\n\n\n\n<p>1st resistance: 0.6695<\/p>\n\n\n\n<p>Supporting reasons: Identified as a pullback resistance, indicating a historical point where previous rallies have faced selling pressure or reversed.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-us.googleusercontent.com\/docsz\/AD_4nXfYY1yyVuycMXV2G8Ru-5DpPGHG0C39qVIL31rRsGjhJ44jpjN5IrxC8GWqkYDX7CIedorknfbazW3v2THG0xKoN_CMkV57vIUJ_BQUVUPUuXh1eSpZvxq-n2YvoGtKVjCumaJ1_hlHaCultRAAdnpRJzmL?key=EBYO3ODHD1xqElVOrlBjMg\" alt=\"\"\/><\/figure>\n\n\n\n<h1><strong>NZD\/USD<\/strong><\/h1>\n\n\n\n<p>Potential Direction: Bullish<\/p>\n\n\n\n<p>Overall momentum of the chart: Neutral<\/p>\n\n\n\n<p>Price is falling towards the pivot and could potentially make a bullish bounce off this level to rise towards the 1st resistance.<\/p>\n\n\n\n<p>Pivot: 0.6085<\/p>\n\n\n\n<p>Supporting reasons: Identified as an overlap support that aligns with a 38.2% Fibonacci retracement level, indicating a potential area where buying interests could pick up.<\/p>\n\n\n\n<p>1st support: 0.5977<\/p>\n\n\n\n<p>Supporting reasons: Identified as an overlap support that aligns close to a 61.8% Fibonacci retracement level, indicating historical significance as a support area where buying interest has previously emerged.<\/p>\n\n\n\n<p>1st resistance: 0.6218<\/p>\n\n\n\n<p>Supporting reasons: Identified as a multi-swing-high resistance, suggesting a historical barrier where selling pressures have been strong.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-us.googleusercontent.com\/docsz\/AD_4nXeM7o4aYO9W1QFfuesc749aku8Dupzfin7pTvS0sxtxwsfJoCuBH6BIFGXpktRelTVquSL69GrnBrrF-KsLD6OgMk7WlCyGXgi9ex8BoSHLSC_NUZsTOLK6rUhZhwuP7PJX2vd6-tJPO_aDJtJDpaMBgUM?key=EBYO3ODHD1xqElVOrlBjMg\" alt=\"\"\/><\/figure>\n\n\n\n<h1><\/h1>\n\n\n\n<h1><strong>US30 (DJIA):<\/strong><\/h1>\n\n\n\n<p>Potential Direction: Bullish<\/p>\n\n\n\n<p>Overall Momentum of the Chart: Neutral<\/p>\n\n\n\n<p>Price is falling towards the pivot and could potentially make a bullish bounce off this level to rise towards the 1st resistance.<\/p>\n\n\n\n<p>Pivot: 38,106.51<\/p>\n\n\n\n<p>Supporting Reasons: Identified as a pullback support, indicating a potential area where buying interests could pick up.<\/p>\n\n\n\n<p>1st Support: 37,093.10<\/p>\n\n\n\n<p>Supporting Reasons: Identified as a pullback support that aligns with a 38.2% Fibonacci retracement level, suggesting historical significance where previous declines have found support.<\/p>\n\n\n\n<p>1st Resistance: 40,056.05<\/p>\n\n\n\n<p>Supporting Reasons: Identified as a swing-high resistance close to the all-time high, indicating a historical point where previous rallies have faced selling pressures.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-us.googleusercontent.com\/docsz\/AD_4nXeItsNVpyO5A74PjtmaArcXm2p5Po5lxfdNCU4atKE9O6W-KRfTsSXtoFHugvtG1GHrN7ub0hfQ2xRLUzJlpkKeOXB9MxMzqZFksTatsDYRsAaGGqThv9o0rFe811bn18zrQqbQUdGE-sczYwptsKBp_8i6?key=EBYO3ODHD1xqElVOrlBjMg\" alt=\"\"\/><\/figure>\n\n\n\n<h1><strong>DE40 (DAX):<\/strong><\/h1>\n\n\n\n<p>Potential Direction: Bullish<\/p>\n\n\n\n<p>Overall Momentum of the Chart: Neutral<\/p>\n\n\n\n<p>Price is falling towards the pivot and could potentially make a bullish bounce off this level to rise towards the 1st resistance.<\/p>\n\n\n\n<p>Pivot: 17,712.10<\/p>\n\n\n\n<p>Supporting Reasons: Identified as a swing-low support, indicating a potential area where buying interests could pick up.<\/p>\n\n\n\n<p>1st Support: 17,004.20<\/p>\n\n\n\n<p>Supporting Reasons: Identified as an overlap support, indicating historical significance where previous declines have found support.<\/p>\n\n\n\n<p>1st Resistance: 18,643.10<\/p>\n\n\n\n<p>Supporting Reasons: Identified as a pullback resistance that aligns close to a 78.6% Fibonacci retracement level, suggesting a historical point where previous rallies have faced selling pressures.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-us.googleusercontent.com\/docsz\/AD_4nXdq5tSyYaATretk3-HZRXYetYkybU33muPVJn3XR1SRmPkeXjs-b0_jY4oGxyG2K94yWiGBRJuZG192nXMuu_I_1GAAdiJToZGiAQFJisg23GqHsHKHJRhDm526xr5RC_tgZK2uAUDhZ_zFwKdGUZfWretN?key=EBYO3ODHD1xqElVOrlBjMg\" alt=\"\"\/><\/figure>\n\n\n\n<h1><strong>US500 (S&amp;P 500):&nbsp;<\/strong><\/h1>\n\n\n\n<p>Potential Direction: Bullish<\/p>\n\n\n\n<p>Overall momentum of the chart: Bullish<\/p>\n\n\n\n<p>Price is falling towards the pivot and could potentially make a bullish bounce off this level to rise towards the 1st resistance.<\/p>\n\n\n\n<p>Pivot: 5,326.24<\/p>\n\n\n\n<p>Supporting reasons:&nbsp; Identified as an overlap support that aligns close to a 38.2% Fibonacci retracement level, indicating a potential area where buying interests could pick up.<\/p>\n\n\n\n<p>1st support: 5,225.73<\/p>\n\n\n\n<p>Supporting reasons: Identified as a pullback support that aligns with a 50% Fibonacci retracement level, indicating a significant historical area where buying activity has previously occurred.<\/p>\n\n\n\n<p>1st resistance: 5,520.06<\/p>\n\n\n\n<p>Supporting reasons: Identified as a pullback resistance that aligns with a 161.8% Fibonacci extension level, suggesting a critical area where selling pressures may intensify and potentially halt further upward movement.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-us.googleusercontent.com\/docsz\/AD_4nXdurRLlbdVPTKWjotWNyGifZ2nthSz8i1N6brIEnZCKDI8KeU3xDP6DiFNLHkU8O4FVhuUdWhl7fsgTOOta_vwYE746AbHOo1aMC9k8pJBjauARhkE2dAgthDCtcd2WWzHYTsH1I5b4mKG-V-yOyXHsjTJH?key=EBYO3ODHD1xqElVOrlBjMg\" alt=\"\"\/><\/figure>\n\n\n\n<h1><strong>BTC\/USD (Bitcoin):<\/strong><\/h1>\n\n\n\n<p>Potential Direction: Bullish<\/p>\n\n\n\n<p>Overall momentum of the chart: Neutral<\/p>\n\n\n\n<p>Price is falling towards the pivot and could potentially make a bullish bounce off this level to rise towards the 1st resistance.<\/p>\n\n\n\n<p>Pivot: 60,593.34<\/p>\n\n\n\n<p>Supporting reasons:&nbsp; Identified as a pullback support that aligns close to a 78.6% Fibonacci retracement level, indicating a potential area where buying interests could pick up.<\/p>\n\n\n\n<p>1st support: 58,252.12<\/p>\n\n\n\n<p>Supporting reasons: Identified as a swing-low support, suggesting a significant historical area where buyers have previously been active.<\/p>\n\n\n\n<p>1st resistance: 71,624.30<\/p>\n\n\n\n<p>Supporting reasons: Identified as a pullback resistance, indicating a historical barrier where selling pressures may be encountered.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-us.googleusercontent.com\/docsz\/AD_4nXfeFp9GQRVbt4Q-FDfEeBzgKdkutiRPS3GT5UqSgfhwiNwVN3Nbv7a8I4BkVU707dokeLMBH7tt88AelbUcSUmZpkmEOofbKTxcmMARn1C-hE54bGdauuzbcOMtL_XRP7QJDyuYvmNiwssofu92IWfTOsdZ?key=EBYO3ODHD1xqElVOrlBjMg\" alt=\"\"\/><\/figure>\n\n\n\n<h1><strong>ETH\/USD (Ethereum):<\/strong><\/h1>\n\n\n\n<p>Potential Direction: Bullish<\/p>\n\n\n\n<p>Overall Momentum of the Chart: Neutral<\/p>\n\n\n\n<p>Price is falling towards the pivot and could potentially make a bullish bounce off this level to rise towards the 1st resistance.<\/p>\n\n\n\n<p>Pivot: 3,356.14<\/p>\n\n\n\n<p>Supporting Reasons: Identified as an overlap support that aligns close to a 50% Fibonacci retracement level, indicating a potential area where buying interests could pick up.<\/p>\n\n\n\n<p>1st Support: 2,863.34<\/p>\n\n\n\n<p>Supporting Reasons: Identified as a pullback support that aligns close to a 61.8% Fibonacci retracement level, suggesting historical significance where previous declines have found support.<\/p>\n\n\n\n<p>1st Resistance: 3,889.27<\/p>\n\n\n\n<p>Supporting Reasons: Identified as a pullback resistance, indicating a historical point where previous rallies have faced selling pressure.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-us.googleusercontent.com\/docsz\/AD_4nXf1cOT30Gz7oMVdUGGCgaFVVFMQgId-VAu0tXE68Aek9HfONxgZ8vBbpvqEK9ycSfqXLYU3huRKrlK6OfD4aZvp_66ftJeD3_yjUMgIwED9bb-41yQVolbFjrEkUWRViBoYY5aGtBOlWcF1NtHWqjcqLhI?key=EBYO3ODHD1xqElVOrlBjMg\" alt=\"\"\/><\/figure>\n\n\n\n<h1><\/h1>\n\n\n\n<h1><strong>WTI\/USD (Oil):<\/strong><\/h1>\n\n\n\n<p>Potential Direction: Bullish<\/p>\n\n\n\n<p>Overall Momentum of the Chart: Bullish<\/p>\n\n\n\n<p>Price is trading close to the pivot and could potentially make a bullish bounce off this level to rise towards the&nbsp; 1st resistance.<\/p>\n\n\n\n<p>Pivot: 80.61<\/p>\n\n\n\n<p>Supporting Reasons: Identified as a pullback support, indicating a potential area where buying interests could pick up.<\/p>\n\n\n\n<p>1st Support: 78.00<\/p>\n\n\n\n<p>Supporting Reasons: Identified as a pullback support that aligns close to a 50% Fibonacci retracement level, indicating a potential area where buyers could step in after a retracement.<\/p>\n\n\n\n<p>1st Resistance: 84.38<\/p>\n\n\n\n<p>Supporting Reasons: Identified as a pullback resistance that aligns close to a 78.6% Fibonacci retracement level, suggesting a potential area where selling pressures could emerge.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-us.googleusercontent.com\/docsz\/AD_4nXeXPlBA-QCkdj4ZXhkXmjO7Htyx10PAKJnpC7mh0Nd4aZ2V8kL4UN6GFziu63Pgd14hEnjO-FJi3_Kro19t1AaHFoavRAfCH_zdNQJTkjPnHEPKac9acFMfn0NZdmBhOPGgYrjdPZzlINrmRDLqg_WSoDJs?key=EBYO3ODHD1xqElVOrlBjMg\" alt=\"\"\/><\/figure>\n\n\n\n<h1><strong>XAU\/USD (GOLD):<\/strong><\/h1>\n\n\n\n<p>Potential Direction: Bearish<br \/>Overall momentum of the chart: Bearish<\/p>\n\n\n\n<p>Price could potentially make a bearish reaction off pivot and drop to 1st support.<\/p>\n\n\n\n<p>Pivot: 2330.31<br \/>Supporting reasons: Identified as a pullback resistance level, indicating a potential area where previous rallies have faced selling pressure.<\/p>\n\n\n\n<p>1st support: 2285.07<br \/>Supporting reasons: Identified as a multi-swing low support level, suggesting historical significance where previous declines have found support.<\/p>\n\n\n\n<p>1st resistance: 2375.72<br \/>Supporting reasons: Identified as an overlap resistance level, indicating a significant area where previous rallies have faced selling pressure or reversed.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-us.googleusercontent.com\/docsz\/AD_4nXc9sT-unP-6WI-4c4gxqe73tZ6m8UDHV7PNY8LWiRLUhJmXMiKXop6oncnOqrYKilQ-yySzBm68SCtmtCoMkB1ZPVEIwFdb2kfbed_qGDw-GX9UUonqXW2RmeCO1U7BXlXKjg6ZjwfkQYs6bWe9sBBwb-jD?key=EBYO3ODHD1xqElVOrlBjMg\" alt=\"\"\/><\/figure>\n\n\n\n<p>The accuracy, completeness and timeliness of the information contained on this site cannot be guaranteed. IC Markets does not warranty, guarantee or make any representations, or assume any liability regarding financial results based on the use of the information in the site.<\/p>\n\n\n\n<p>News, views, opinions, recommendations and other information obtained from sources outside of www.icmarkets.com, used in this site are believed to be reliable, but we cannot guarantee their accuracy or completeness. All such information is subject to change at any time without notice. IC Markets assumes no responsibility for the content of any linked site.<\/p>\n\n\n\n<p>The fact that such links may exist does not indicate approval or endorsement of any material contained on any linked site. IC Markets is not liable for any harm caused by the transmission, through accessing the services or information on this site, of a computer virus, or other computer code or programming device that might be used to access, delete, damage, disable, disrupt or otherwise impede in any manner, the operation of the site or of any user\u2019s software, hardware, data or property.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Identified as a multi-swing high resistance level, specifically at the 161.80% Fibonacci Extension and 61.80% Fibonacci Projection, indicating Fibonacci confluence.<\/p>\n","protected":false},"author":8,"featured_media":61982,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[340,216,215,339],"tags":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/70494"}],"collection":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/comments?post=70494"}],"version-history":[{"count":1,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/70494\/revisions"}],"predecessor-version":[{"id":70495,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/70494\/revisions\/70495"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/media\/61982"}],"wp:attachment":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/media?parent=70494"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=70494"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=70494"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}