Each fib level on the CD leg is in confluence with Mothly Pivot Resistance levels which increase the overall resistance. A move below Monthly PP at 101,78 and the Horizontal support/ resistance at 101,48 will shift ST bias to the downside. A daily close above 104 will likely advance upward move.Note that Yearly R1 is in pip to pip confluence with 127extension of CD leg at 111,50.
Comments
Mirandole
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Hi ! Do you think we'll break the 101.478-support ?
Best Regards, Serge
CapMoore
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Very difficult to guess on. Will stock market plummet? The tight range consolidation reflects indecision on the stock market.
Best Regards, Serge