Market could potentially complete a nice harmonic butterfly
BUY in K-area and agreement zone. All fib numbers align very nicely. But then again, market is king! ;) That being said, price is now below MPS2 and WPS2 but holding above DPP
. If price doesn't break this range beyond MPS2 and WPS2, I would look at a retest of the DPP
and K-area since it happens to be inside said K-area, and if that breaks, then we'll have a chance to see the harmonic pattern
complete with potential reversal up from PRZ. (around D point), which also happens to be another K-area around major S/R levels as well.
So I predict strong support at least in the 2nd K-area where the Butterfly
BUY could complete. But if that SPPT zone does not hold as well, then we are off to the races, as it were.