Another proof, but now, of the fibonacci projection, based on the previous down trend channel.
The top and the bottom on the channel are confirmed by the RSI, which then breaks into a up-trend, hitting precisely the first fibonacci target (38%) in a short time.
By this indicator, if the trend continues, we can expect at least to reach the second target (50%) at 1966. The third target (68%) might be too far away, but is located around 2026, a place of strong resistance.
The VWAP indicates a positive trend.
The top and the bottom on the channel are confirmed by the RSI, which then breaks into a up-trend, hitting precisely the first fibonacci target (38%) in a short time.
By this indicator, if the trend continues, we can expect at least to reach the second target (50%) at 1966. The third target (68%) might be too far away, but is located around 2026, a place of strong resistance.
The VWAP indicates a positive trend.