Fib retracement from recent high of 1420 to low of 761.61 shows latest price action bounced off 0.382 level.
Looks to be trading in channel as per chart.
Long tails on recent low shows bulls took charge when price dropped.
My only concern is the low volume on the green candles indicating maybe bears will overwhelm the attempt to push through the 0.5 fib level.
Thoughts?
Looks to be trading in channel as per chart.
Long tails on recent low shows bulls took charge when price dropped.
My only concern is the low volume on the green candles indicating maybe bears will overwhelm the attempt to push through the 0.5 fib level.
Thoughts?