The blue lines indicate the strong trendlines where the price could take support.
As all can see, the chart has respected most of the Fibonacci levels very well including the strong 1, 1.618 and 2.
My expectation of the short term reversal zone was from the upper half of the 1.618 to 2 zone. Expect some correction next fortnight but it should be a good chance to look for accumulating quality stocks.
As all can see, the chart has respected most of the Fibonacci levels very well including the strong 1, 1.618 and 2.
My expectation of the short term reversal zone was from the upper half of the 1.618 to 2 zone. Expect some correction next fortnight but it should be a good chance to look for accumulating quality stocks.
Comment:
*DISCLAIMER*
For educational purposes only. Not a recommendation.
Treat StopLoss as your best friend to get you out of troubles.
For educational purposes only. Not a recommendation.
Treat StopLoss as your best friend to get you out of troubles.