A breach of the 0.618 level and technical support will expose the Year-to-date pivot Low. It could be a Fakeout too based on the current fundamental information.
Note
A breakout happened and I'm now waiting for a retest to confirm the head and shoulder. However, this is highly unlikely given the volatility in the Equity markets
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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.