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1618 Fibonacci Extension

Golden proportion seems to be a very strong resistance.If you are seeking the answer why has the SPX500 stopped at this strange area and stucked, I got the answer :) The golden number is a key this time as almost always in technical analysis. This two lines corresponds with 1.618 of two different market moves: 2120 is the level of 1.618 extension of the previous bull run ended in late 2007 2072 is the level of 1.618 extension of the last bear run started right after. So what? Notice that 2120 is a very strong resistance tested many times and it is placed exactly on 1.618 of the last bull run. This place is highly probable to be the top of the current 7 years bull run in my opinion. But if resistance will not hold the price this level will be very strong support for prices to attack next important 1.618 level around 2300.
FX:SPX500Short
by hotowy
1
Potential pull back area for "Dixie"On the monthly chart, the US Dollar Index has soared without a pull back since May 2014 leaving questions for a possible future retracement. Approaching the 1.618 Fibonacci extension (~101) and previous key resistance at 103 is a price region where the effect on price action behaviour will be of significant interest from a technical perspective to witness a potential pullback. Until then, Dixie continues to cycle offering short to medium-term long opportunities on the daily time frame.
INDEX:DXY
by amanpaulbhogal
1