SCR has completed a significant correction, reaching a key Fibonacci support zone around 0.342. The chart shows a deep retracement, hinting at a potential reversal from this level.
🔹 Fibonacci Levels – The current support aligns closely with the 0.618 Fibonacci retracement level at 0.927, which is often considered a strong reversal point after a correction.
🔹 Potential Upside Targets:
0.786 (1.283) – First significant resistance if the bounce occurs.
0.886 (1.556) – A stronger resistance level that could act as a potential profit-taking zone.
1.0 (1.940) – Recovery to previous highs and the key psychological level.
1.236 (3.062) – Extension target after breaking the previous high.
1.618 (6.410) – Ultimate bullish target in case of a full trend reversal.
🚀 Scenario Analysis
* Bullish Reversal (70%): Price holds support, starts a rally towards 1.283, then 1.556, and beyond.
* Further Breakdown (30%): Price fails to hold 0.342, leading to deeper corrections towards 0.280 or lower.
Let's see if bulls can maintain the critical support or if bears push for a deeper correction! 💥
🔹 Fibonacci Levels – The current support aligns closely with the 0.618 Fibonacci retracement level at 0.927, which is often considered a strong reversal point after a correction.
🔹 Potential Upside Targets:
0.786 (1.283) – First significant resistance if the bounce occurs.
0.886 (1.556) – A stronger resistance level that could act as a potential profit-taking zone.
1.0 (1.940) – Recovery to previous highs and the key psychological level.
1.236 (3.062) – Extension target after breaking the previous high.
1.618 (6.410) – Ultimate bullish target in case of a full trend reversal.
🚀 Scenario Analysis
* Bullish Reversal (70%): Price holds support, starts a rally towards 1.283, then 1.556, and beyond.
* Further Breakdown (30%): Price fails to hold 0.342, leading to deeper corrections towards 0.280 or lower.
Let's see if bulls can maintain the critical support or if bears push for a deeper correction! 💥
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.