Using Fib my methodology you can see we have gapped up above the 618 of yesterdays down move, but are still
in the bear zone of the larger weekly down move. A push above 357.50 would get us to neutral and above 360 again
would get us to the bull zone of the weekly move. So for today 357.50 is a key level to break if we hope to see some
bullish follow through. To the down side 350.50 is holding everything up. If we lose that level watch out below.
See my FIB methodology post below if you don't understand how I use fibs to define trend.
in the bear zone of the larger weekly down move. A push above 357.50 would get us to neutral and above 360 again
would get us to the bull zone of the weekly move. So for today 357.50 is a key level to break if we hope to see some
bullish follow through. To the down side 350.50 is holding everything up. If we lose that level watch out below.
See my FIB methodology post below if you don't understand how I use fibs to define trend.
Comentário:
Held the gap support and took out 357.50. This was a positive close. The 360.56 level will now act as resistance, but it will also be a magnet. This is because, when price breaks above the 382fib odds greatly increase that it will continue to the 618fib.
