ARX - dead cat bounce in making?ARX developed full impulse to downside, move down has also ruined bullish divergences, so any bull plan is laid to cold for now.
We have 2 S/R ranges (fibb 0.382 and fibb 0.5) that will be strong resistance points preventing any move up in short term. We are going to get bounce up due to oversold conditions but I take this move as dead cat bounce going for test of S/R ranges where I expect rejections.
Bull plan comes alive only when we wick fibb 0.618 level and correct back to S/R forming a higher low.
