Preferred case: On the H4 chart, we have a bullish bias. Overnight price had a small bearish retracement downwards. However, if this overall bullish momentum continues, expect price to continue bullish and head towards the 1st resistance at 698.50 where the previous high and 2 x 100% Fibonacci lines are located.
Alternative scenario: Price may go back down and close below the 1st support line at 680.25 where the 50% and 38.2% Fibonacci lines are located, and head towards the pivot at 661.50, where the previous swing low is located.
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