Even Neo Faces Resistance

Neo has retraced from resistance at the upper bound of the upper bound of the KRI at $140 or so, and currently is hovering at $133. Although this is a setback, it is still likely we are in wave 3 of the impulse wave, and we hope that momentum will revive. The Kovach OBV remains bullish, but the Kovach Chande has waned, which is disappointing. Again, we are currently facing resistance at the upper bound of the KRI at $140. We have support from below at the upper bound of a congestion zone at $136, a Fibonacci level at $129, then the central moving average at $121, then $115, then from a Fibonacci level at $110, and finally from the psychologically significant $100. If we can break through to the $140's, there are some significant obstacles, including the upper bound of the KRI at $140, then at $144 from relative highs and a Fibonacci level which corresponds with a Fibonacci Fan level at $155.

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