AMD SHORT TERM BEARISHNESS BEFORE LONGER TERM BULLISHNESSAMD is currently showing heavy amounts of retracement and entering the 0.382 zone. This is typically the bounce off region according to fib theory.
Bullish Points:
- 0.382 fib zone is the bounce off zone typically for most assets
- Bottom of kumo cloud acts as additional support and coincides with fib retracement level of 0.382
- 100 EMA acting as support as well
Resistance levels
Roughly $27 which coincides with upper kumo resistance.
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