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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.
Friday 3rd December 2021 : Technical Outlook and Review
On the H4, with price moving below the ichimoku cloud and approaching a horizontal resistance, we are bias that price will have bearish move and drop to 1st support at 34228 in line with the horizontal swing low support from 1st resistance at 34838 in line with the 78.6% Fibonacci extension. Alternatively, price may break 1st resistance structure and head for 2nd resistance at 35274 in line with the 127.2% Fibonacci extension.
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