Something I noticed.
Every retrace since february has been a perfect retrace to the golden pocket (0.618-0.65 Fib area)
Currently we are facing another golden pocket area again around 7.5K. There is alot of confluence resistance in this area which could lead us back lower.
The 200EMA is above us that act as resistance
Prior resistance.
Trendline formed since February that has acted as resistance
And finally we are forming a rising wedge.
Cheers!
Every retrace since february has been a perfect retrace to the golden pocket (0.618-0.65 Fib area)
Currently we are facing another golden pocket area again around 7.5K. There is alot of confluence resistance in this area which could lead us back lower.
The 200EMA is above us that act as resistance
Prior resistance.
Trendline formed since February that has acted as resistance
And finally we are forming a rising wedge.
Cheers!
Note
And..............DUMP
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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.