BXY under bearish pressure, bearish below first resistance level
BXY is approaching our first resistance where we might see a corresponding drop in price to our first support level at 6.974. Stochastic is also seeing bearish pressure from its resistance line. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
BXY approaching resistance, potential drop!
BXY is approaching our first resistance at 7.0216 (horizontal overlap resistance, 61.8% Fibonacci retracement, 61.8% Fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 6.9631 (61.8% Fibonacci retracement, horizontal swing low support). Stochastic is also approaching resistance where we might see a corresponding drop in […]