Break of .236 fib which has acted as good support will open up downside
Parallel channel hit and reversed price action earlier today
Waiting for break of yellow line & RSI trend to confirm downside potential firstly towards purple box (confluence of 2 fib levels) and secondly towards .5 and .618 fib levels.
Parallel channel hit and reversed price action earlier today
Waiting for break of yellow line & RSI trend to confirm downside potential firstly towards purple box (confluence of 2 fib levels) and secondly towards .5 and .618 fib levels.
Comment:
See if this level now turns into resistance
