WMS has a significant mark-up phase if it can break supply, and hold demand above the $111-$113 range.
First, let us take a look at the red-on-red filled candle (highlighted yellow) at $111.11 open from 02 March 21
When back testing the resulting move following a breakthrough of similar candle-based indications, the price action has continued into a steady...
WM is approaching our first support at 83.77 (horizontal overlap support, 23.6%, 76.4% fibonacci retracement, 100% fibonacci extension) where a strong bounce might occur above this level pushing price up to our major resistance at 57.23 (horizontal pullback resistance, 61.8% fibonacci extension, 61.8% fibonacci retracement).
Stochastic (21,5,3) is also...
WM is approaching our first support level at 85.98 (100% Fibonacci extension, 61.8% Fibonacci retracement, ascending channel’s support) where a strong bounce might occur above this level pushing price up to our major resistance at 93.71 (horizontal swing high resistance, 61.8% Fibonacci extension).
Stochastic (21,5,3) is also approaching support where we might...
