Falling to 50% Fibonacci Support
Title
Falling to 50% Fibonacci Support
Type
Bullish Bounce
Preference:
Price is falling towards the pivot point of 87.49 which is an overlap support that sits above the 50.0% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 89.72 which is a pullback resistance that sits under the 61.8% Fibonacci retracement level.
Alternative scenario:
If price breaks below the pivot point, it could hit the 1st support at 86.01 which is a pullback support level.
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