Currently sitting above daily and weekly 200 EMA, and further downside looks quite possible. Price has broken below H4 200 EMA and support was turned into resistance at the 3.382-3.618 fib area. Triangle wave also in play here. $60 next stop?
It also has the potential to become bullish if upper trendline is broken and support is found again at the 3.382-3.618 fib area.
It also has the potential to become bullish if upper trendline is broken and support is found again at the 3.382-3.618 fib area.
Comment:
Seems to be pretty strong support on 4.382-4.618 area, with strong bullish movement appearing, higher lows
Comment:
Gartley pattern in play (ABCD and last point at this previous swing high). Accumulation occurred at this last swing high, which lies on the 2.382-2.618 Fib area - this area is proving to be quite strong currently.