Clear to retrace
Lots of traders are trapped short here, IMO. A rising wedge breakout to the downside, which has now turned out to be a fakeout, could be the short stop fuel needed for a pump. Possible stimulus package passed any day. They need a distraction from that horrendous Presidential debate.
We have also cleared the .236 fib, which could indicate a fib retracment to at least ~ $25, which is the approx .5 fib, but no reason it couldn't go higher.
We have also cleared the .236 fib, which could indicate a fib retracment to at least ~ $25, which is the approx .5 fib, but no reason it couldn't go higher.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.