I am waiting to see what the raising trend line has in store for us on the 4hr chart.
A confirmed candle close below will see a possible drop to the 38.2% line (Fibs drawn for retracement from the late December to the January 13 High)
A closed candle bounce off of the rising trend line and above could see a retest of the 78.6% line
A closed candle back above the 78.6 line could see a retest of the all time high.
A confirmed candle close below will see a possible drop to the 38.2% line (Fibs drawn for retracement from the late December to the January 13 High)
A closed candle bounce off of the rising trend line and above could see a retest of the 78.6% line
A closed candle back above the 78.6 line could see a retest of the all time high.
Commento:
4hr candle has now closed below the rising trend line. Possible move to around 1000 first. 900 area is the second support.