WTC is currently trying to break out of the range you can see on the weekly chart - If the candles can close and open above the fib then we get into a new price range - Bouncing off might cause the candles to drop to re touch the uptrend - Early warning of a drop would be the candles breaking the blue 1x1 Gann fib on the 180 chart
Comment:
This drop from resistance was likely due to the candles already touching the top of the range on the weekly chart, they have touched the 78.60% fib but not the bottom of the range marked by the blue band yet, so this may be necessary - On the 180 chart the candles must hold the blue 1x1 Gann fib ray
Comment:
WTC didn't have the strength and broke support of the 1x1 Gann fib ray - Next support levels are marked by the blue bands - The candles are at the edge off the arc pair on the 180 chart and the new weekly candle opens tonight, its possible we get a spike in next 24 hours, it wont be a huge movement - It's also possible the price may drop to find ascending support - The action will happen as the candles leave the arc
Comment:
Theres the spike on leaving the arc, more powerful than i expected, could be some good movement today for WTC
Comment:
Short lived spike - Wtc candles have found support on the Gann 2x4 fib ray
Comment:
Nice smash up as the candles left the 5th arc pair!
