ERD. Price retraced to the 0.618 support, as expected we saw a bounce from that level. Depending on volume we could see a price increase to the 1.618 target in blue. A short term retracement at the 0.618 resistance is expected. Price needs to break overhead resistance for continued growth.
Comment:
Price has now retraced to the 0.786 support, overall upward movement is probable but it is possible price could further decline, hidden bullish divergence is present and the price formation is in a falling wedge, which is bullish.
If we hit the 1.618 level, the price may surge to the 2.618, just something to look out for.