Price is currently taking support at 1600 level which is also 0.786 Fib.
If price breaks above 1740 level, with heavy volume , next resistance can be seen at 2000 level.
If price breaks below 1470 support, next support can be seen at 1360 level.
On a daily timeframe, the price is still above 50 and 200 EMA and RSI above 50.
Important events in the coming week that can increase volatility:
1st March : ISM manufacturing
3rd March: ISM services
Note:
Note: Studies are for educational purposes only.
We will not be responsible for any kind of your Profits & Losses.
If price breaks above 1740 level, with heavy volume , next resistance can be seen at 2000 level.
If price breaks below 1470 support, next support can be seen at 1360 level.
On a daily timeframe, the price is still above 50 and 200 EMA and RSI above 50.
Important events in the coming week that can increase volatility:
1st March : ISM manufacturing
3rd March: ISM services
Note:
Note: Studies are for educational purposes only.
We will not be responsible for any kind of your Profits & Losses.