Price is currently taking support at 1600 level which is also 0.786 Fib. If price breaks above 1740 level, with heavy volume , next resistance can be seen at 2000 level. If price breaks below 1470 support, next support can be seen at 1360 level.
On a daily timeframe, the price is still above 50 and 200 EMA and RSI above 50.
Important events in the coming week that can increase volatility: 1st March : ISM manufacturing 3rd March: ISM services
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