chart shows Trend based fib levels...165 corresponds to 100% retracement. price is showing bearflag again, which could be catastrophic for bulls....only hope is another hold near 165 to double bottom and reverse.
Otherwise, next level down is 40 (keep an open mind :)
Otherwise, next level down is 40 (keep an open mind :)
Trade active:
As expected, overshot my target and made huge R2G reversal. Risk no longer favors shorts..I'd watch next couple of days for MAs capture and flag.