This analysis is using Fan principle & Fibonacci to conclude about the support

The trend line has been penetrated 3 times, meaning there is confirmation of new trend from uptrend to downtrend.

Using fibonacci we can measure the support is on 104 (0.618 line)

Buy: 100-104
Sell: 110-120
Stop loss: 5% from buy price


The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.