After stating in the last chart breakdown the anticipation of daily support level to form before we can see a retracement we can see that on the current daily time-frame support at 24800 has been formed.
Daily: So we got a clear support level at 24800 our next anticipation is to wait for a retracement to one of our PRZ (price reversal zone level). Base of the chart a Fibonacci level we can see that theres potential confluence at around our 38.2% , 61.8% , and 100% level.
Our first daily resistance zone is around 25200, with the second at 25450 and third at 25880. Our first target is around 24520 or -27% Fibonacci level.
Always keep in mind that market conditions change rapidly and we could see a totally different thing from what we were expecting. So keep a close eye and be open for quick changes in the market.
As always thank you for tuning in. Hope you have a great trading week.
Daily: So we got a clear support level at 24800 our next anticipation is to wait for a retracement to one of our PRZ (price reversal zone level). Base of the chart a Fibonacci level we can see that theres potential confluence at around our 38.2% , 61.8% , and 100% level.
Our first daily resistance zone is around 25200, with the second at 25450 and third at 25880. Our first target is around 24520 or -27% Fibonacci level.
Always keep in mind that market conditions change rapidly and we could see a totally different thing from what we were expecting. So keep a close eye and be open for quick changes in the market.
As always thank you for tuning in. Hope you have a great trading week.
Comment:
Price has reached our first PRZ 38.2% (25207). We got the anticipated retracement we were hoping for, now we wait for a reversal pattern that indicates price is really to continue on with the trend.
Comment:
Price has finally reached our 61.8% fib level which is also one of our daily resistance zone.. Keep and eye for either or break of this zone or continuation of the current trend.
