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Bearish Scenario
A sustained move under $17720 will indicate the selling pressure is getting stronger. This could trigger a move into the next main bottom at $1714. Taking out this level will reaffirm the downtrend and could trigger a further break into the major Fibonacci level at $1518.00.
Bullish Scenario
A sustained move over $1765.30 will signal the presence of buyers. This could trigger a late session short-covering rally with potential targets a pair of 50% levels at $2345 and $3000
Bearish Scenario
A sustained move under $17720 will indicate the selling pressure is getting stronger. This could trigger a move into the next main bottom at $1714. Taking out this level will reaffirm the downtrend and could trigger a further break into the major Fibonacci level at $1518.00.
Bullish Scenario
A sustained move over $1765.30 will signal the presence of buyers. This could trigger a late session short-covering rally with potential targets a pair of 50% levels at $2345 and $3000