If you manually adjust the periodicity of the chart, you can see that these levels are very well respected over time.
The highest Pearson's R level's were identified for regression analysis; however, as values change with updated data, these levels are but a snapshot and likely to change over time. I do expect that these levels will be respected short term.
The red (S/R) levels were identified from multiple fib regression/extension confluence zones.
LR 1) Multicolored descending ( LR ) channel and levels: derived on 4/26/2020 :: LR Channel: (1H Chart) 521 Bar; 107 Day; R=0.782608789
LR 2) White dashed ascending channel and levels: derived on 4/26/2020 :: LR Channel: (3D Chart) 968 Bar; 4207 Day (11.51 Year); R=0.98333933
LR 3) Yellow and Purple short term ascending LR channel and levels: derived on 4/26/2020 :: LR Channel: (1H Chart) 200 Bar; 40 Day; R=0.89835968
- Observe how s/r and LR levels are respected moving forward.
- Observe likely mean reversion at three different identified means.