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Tuesday 7th December 2021 : Technical Outlook and Review
On the H4, with price breaking the ichimoku indicator and the horizontal graphical level, we have a bullish bias that price will rise from 1st support at 35256 in line with the horizontal overlap support to 1st resistance at 35593 in line with the 127.2% Fibonacci extension. Alternatively, price may break 1st support structure and head for 2nd support at 34853 in line with the 38.2% Fibonacci retracement.
Monday 6th December 2021 : Technical Outlook and Review
On the H4, with price approaching the resistance on the stochastics indicator and the horizontal graphical level and moving below the ichimoku cloud, we are bias that price will drop to 1st support at 34157 in line with the horizontal swing low support and 78.6% Fibonacci retracement from 1st resistance at 34900 in line with the 78.6% Fibonacci extension. Alternatively, price may break 1st resistance structure and head for 2nd resistance at 35293 in line with the 127.2% Fibonacci extension.
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