We aren't necessarily making any predictions, just highlighting the most obvious support and resistance we could find, while outlining our general trading trading strategy of buying near the long-term .618-.786 retracements, selling around the 1.27-1.618 extensions. If it holds support on the steepest green trend line, we believe that would be quite a bullish sign in the short-term. Looking pretty good so far, but there's some significant resistance to face very soon...
Kommentera:
I forgot to mention, in this case, the long-term sell targets we set were between the 1.27-1.618 extensions of the first retracement stacked on top of itself, not the extensions of the first retracement itself. Of course the 1.27 and 1.618 of the original retracement are also indicated as well(also in orange), and will likely be VERY significant resistance on the climb up.