The PA is ranging just above a major SR zone with the last previous low at these levels on 9 May 2017. Current PA has formed a fairly tight channel since 17 Oct 2019. The high on 12 Aug 2019 is a double top with 31 Aug 2017, with the previous market high before that on 5 Oct 2009. I will be looking for an RSI break on the 1D to see if the PA turns up away from the SR zone.
Not sure what the significance is of the Fib, but the 61.8% retracement is interesting. Not to mention the 38.2%.
You can see the channel better on the 4H, and also recent previous RSI divergence
Not sure what the significance is of the Fib, but the 61.8% retracement is interesting. Not to mention the 38.2%.
You can see the channel better on the 4H, and also recent previous RSI divergence