Price is expected to continue to move upwards in the bullish momentum towards the 1st Resistance in line with the 100% Fibonacci extension and 61.8% Fibonacci retracement. Price is seen to be holding above the 50 period MA and the Ichimoku cloud which further enhances our bullish continuation bias.
Trading Recommendation
Entry: 151.864
Reason for Entry:
61.8% Fibonacci retracement
Take Profit: 155.064
Reason for Take Profit:
127.2% Fibonacci extension and 76.4% Fibonacci retracement
Stop Loss: 149.292
Reason for Stop Loss:
76.4% Fibonacci extension