BCOUSD is approaching our first support at 73.27 (38.2% Fibonacci retracement, 61.8% Fibonacci extension) where a strong bounce might occur above this level pushing price up to our major resistance at 74.98 (61.8% Fibonacci extension). RSI is also approaching support where we might see a corresponding bounce in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results