Today we put in a lower high, on very light momentum and volume.
The chart below includes a Fibonacci price extension drawn from yesterday's High & Low and projected off of this morning's High, giving us potential support extensions.
Also on the chart below is drawn a Fibonacci price retracement tool, snapped from yesterday's High down to it's Low giving us confluence zones of support.
Price was unable to sustain the upper 50% of it's previous day's range today and sold off on heavier volume. These last two double down swings have registered divergences, and the highs seem to get tested more frequently than the lows have been lately.
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