Looking back at the past 33 day support on FIB, 0.5 retracement level played as a strong support, however this was while MACD and Signal lines moved in an upward momentum.
Now with a possible reversal on MACD playing out AND still sitting at 0.5 (34464.0) if support doesn't hold and gets broken progressively, the next level of support is 0.618 (27270.0).
Now with a possible reversal on MACD playing out AND still sitting at 0.5 (34464.0) if support doesn't hold and gets broken progressively, the next level of support is 0.618 (27270.0).
Note
Current Critical Support Being BrokenNote
Possible next target is 27200 sitting at 0.618 retracementNote
Possible bounce at 0.618 - 27200, next possible target 22K of 0.618 gets broken
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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.