All long-term psychological targets and Support/Resistance levels are at fib intersections.
Here are some short/mid term targets:
Forecasts by institutions
Goldman Sachs: 54
Societe Generale: 46
Morgan Stanley: 51
JPMorgan Chase: 52
Citi: 57
Deuche Bank: 51
Atlantic Equities: 55
Oppenheimer & Co: 54
Here are some short/mid term targets:
Forecasts by institutions
Goldman Sachs: 54
Societe Generale: 46
Morgan Stanley: 51
JPMorgan Chase: 52
Citi: 57
Deuche Bank: 51
Atlantic Equities: 55
Oppenheimer & Co: 54
Comment:
Fell to fib opposite to the direction of movement, hence increased chances of triangular formations in fibonacci frames.
Comment:
0.618 support.
Comment:
This is why you never trust forecasts or evaluation reports by institutions. Their deals were locked in before publishing. They have their angle trading 5 wavers off the market into their balance. Obviously they know about their volumes and aware about balance of money than news-traders or some naive neural network that analyses asymmetric flow of info. The actual objective balance of market is not only in patterns but in Candle Metrics too.