Support at the 1.618 Fibonacci level has been unsuccessfully tested four times implying that the bearish trend is overextended. Potential completion of a double bottom reversal pattern to confirm trend reversal.
NB: When the 1.618 level is exceeded, the price action is in an extreme state.
NB: When the 1.618 level is exceeded, the price action is in an extreme state.
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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.