As we can see it has broken below the previous support line and tested twice, confirming the new positioning of the line of resistance. I have also redrawn a slightly longer chart, with a bigger Fibonacci snapshot and new downward trend line that was squeezed down to meet the upward trend that we were previously starting to form. That line has also been taken back to a further re-test point, so it gives a clearer indication as to where it will most likely bounce off of for the re-test of 9.00. If for some reason it decides to straddle the 0.618 retrace for some reason, it will inherently smack off the newly created downward trend line, as there is not enough buying power to reverse any time soon. It will be interesting to see how well it holds up from then, until the time of legalization.
