The weekly (right chart) bounced off a 38.2% Fib. retracement with a stark reverse divergence (2c-2d setup). What is transpiring on the daily chart (left) is the potential 3d criteria which sets up the higher time frame follow-through.
Points for consideration:
- Price holding the 50% retrace (roughly $555)
- A breakout above the overhead down trend line leading to the $581 resistance mark.
- First Fib. target of a 50% projection near the $608 level.
No comments:
Post a Comment