The price recently reached the 61.8% Fibonacci retracement level and at the same time, the has hit the 38.2% Fibonacci time level. This combination of price and time Fibonacci levels signals that the trend is strong and likely to continue. With this momentum, it is normal to expect a move towards a new high at 3580.
Note
An Hourly Closes below 3300 will fail the analysis.
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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.