Potential area of suppoty for the Qs. Confluence in the 290s: Weekly 150 Sma acted as support on previous drop. Previous supply zone might turn into demand zone. 50% retracement from pandemic low to recent top.
@ruby_redusa, we did bounce at the zone I had a circle on. But we broke it later. We can now to the 200 weekly sma, 0.618 retracement for the overall move as possible target.
ruby_redusa
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May I ask u what do u mean by supply zone, and how is 50% retracement is from pandemic low is recent top
Willgau13
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@ruby_redusa, You take the pandemic low and the recent top with the retracement tool and you get those levels. Supply zone is a zone where youll see more sellers than buyers so will act as a resistance.