TOTAL MARKET CAP (Y22.P1.E2).Likely to go down more.

Hi All,

#TOTAL #TOTALMARKETCAP

Today's drop was in line with the broader markets. Charts below.
So we seem to have confluence with these markets and its hence wise to watch what they are doing.

I have setup the fib levels on this chart and you can see perfectly aligned.

What is bullish is the MA merging to cross over and has confluence with the fib level for strong support.
We have:
a) fib, level
b) previous support level \ resistance
c) breakout from a triangle formation which hasn't reached its target
d) Macro indicators on the daily are still strong.

Note when the previous Moving Averages crossed and when happened to the rest of the chart, chart below.

Please give me a like and share,

cheers,
S.SAri

Commento:

Nice bounce off the fib. but can it hold?