Sage Investment Club

Type: Bearish DropKey Levels:Resistance:1835.0Pivot:1744.0Support:1656.5 Preferred Case:On the H4 chart, we have a bearish bias. To add confluence to this, price is crossing below the Ichimoku cloud which indicates a bearish market. If this bearish momentum continues, expect price to possibly break the pivot at 1744.0, where the 50% Fibonacci line is, before heading towards the support at 1656.5, where the previous swing low is. Alternative Scenario:Price may possibly head back up towards the resistance at 1835.0, where the 78.6% Fibonacci projection line is.Fundamentals:There are no major news.

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