CLF5 continues to plunge towards Fibonacci extension 200.0% at 50.84 amid weaker demand forecast.
Focusing on H4 chart, it is observed that candles were resisted at 58.69 and a continuation of bearish trend is expected.
Candles are nearing the support price at 54.21. If broken below, candles are expected to head towards 50.00.
Trend Direction |
S3 |
S2 |
S1 |
R1 |
R2 |
R3 |
Entry |
Stop Loss |
Exit |
| Bearish | 49.50 | 50.84 | 54.21 | 56.30 | 58.69 | 60.50 |