expected price December 1st
I mapped out fibonacci retracement lines and found that strong support at 5800 from back in November 2017. I assumed this was a critical support that if broken would lead to a sharp down fall. My previous expectations were met this summer June/July/August as I plotted key points in the previous months (April,may) with no real indication of a strong support which is what lead me to believe this 5800 support I had found was critical. Looking back I can see the critical support was actually 6200, although it is worth noting I am on the day chart. The next and most recent point I have decided plot at 4800 also appears to be slightly off but I expect a correction before December back to low-mid 5k's with rsi neither oversold or overbought, then in December when that support is breached again and rsi is off the scale again to the downside we will see a bounce with a consolidation and beginning of bull rush before the end of March.
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.