If you manually adjust the periodicity of the chart, you can see that these levels are very well respected over time.
A 1 hour chart to fine tune to the highest Pearson's R level; however, as values change with updated data, these levels are but a snapshot and likely to change over time. I do expect that these levels will be respected short term.
The green (S/R) levels were identified from multiple fib regression/extension confluence zones.
LR 1) Multicolored descending ( LR ) channel and levels: derived on 4/26/2020 :: 1861 Bar (1H Chart) / 310 Day LR Channel;
LR 2) Purple ascending channel and levels: derived on 4/26/2020 :: 271 Bar (1H Chart) / 45 Day LR Channel;
Red arrows identify divergence.
- Observe s/r and LR levels moving forward.
- Observe likely mean reversion
LR 1) R=0.722745
LR 2) R=0.859373