US100: Fibonacci Retracement

US100, H4

US100 faces a crucial 19800 resistance zone, aligned with the 38.2 Fibonacci ratio. The 200-MA adds an additional layer of support, with the RSI and MFI showing oversold conditions, potentially indicating a bullish sentiment.

If the price rebounds from the 19800 support, it may propel the asset to 20200.
If the price breaches below the 38.2 Fibonacci, the asset may fall to 19100.

Trading foreign currencies on margin involves significant risks and may not be suitable for everyone, as high leverage can increase both potential gains and losses. Before entering the foreign exchange market, it is essential to evaluate your investment goals, personal experience, and risk tolerance.

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Author: Timur Yurdagyul

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