Type: Bullish Bounce Key Levels: Resistance: 51560.03 Pivot: 46911.28 Support: 44586.91 Preferred Case: Price is currently at the horizontal support level, we can expect price to bounce from there in line with 78.6% Fibonacci projection towards 1st Resistance in line with 50% Fibonacci retracement and 78.6% Fibonacci projection. Our bullish bias is further supported by the RSI indicator where it is abiding to the ascending trendline. Alternative Scenario: Alternatively, price could push further down to the 1st Support in line with 127.2% Fibonacci projection. (full story)