Been learning much about EMA ribbon and how well it acts as great support resistance in the daily trend. Looking at the selloff today, in combination with the ribbon and the Fib. You can see that the top of the EMA ribbon lines up well with the .382 of our Fib and the body of the ribbon lies between the .5 and the .382. If the sell off continues I would expect a bounce somewhere between those two Fib lines the top being @7580 with a bottom of 7300. Though right now at publish time we seem to be holding support at the start of the last bull breakout of 7720. This could play out and hold, but if not, more potential downside to levels that I see on the chart. If continued drop below the 7300, 7000 psychological level could be the next stop. Right now we are holding the 100MA @7600 with the 30MA @7150.