ALso 618 FIB is acting as a resistance
the important thing there is that the GREEN NECK LINE is being respected by the price action..<u dont need the arcs even. Just the green line has to be identified.
if you see that whenever the price crosses above the neckline, it gives a little move up. same when it cross down , it gives a down moment.
On other hand when it touches and cannot break the line, it reverses down.
so neckline act as a good Support/Resistance line that price swings around.