FAS possible retest of March lows, target 15

Looking at the long term picture, we did not have a clear B wave bouncing during the March crash, that could suggest a full ABC retracement was completed. We could possibly be rejected at the upcoming Fibb levels, particularly around 50 and 61.8 retracements around 61 and 71. MACD divergence is also negative, which could suggest an impending correction, the extent to which that correction will last is subjective. Watching this for "investing" purposes, if we can get close to the C wave lows around 15.

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Copyright Rohan Karunaratne 2020