ARM eyes on $117 or ideally $90 for major supports to buy
Updated
ARM took off after IPO, and is now retracing.
All plotted levels are from a single fib series.
The golden fibs should be the strongest ones.
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All plotted levels are from a single fib series.
The golden fibs should be the strongest ones.
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Note
Here we are, $90.29Fell to it with a LOT of momentum.
Zoom in (m1)
Looks very bad, hardly a nod to golden fib.
Hopefully bulls can "orbit" this fib for a while.
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Note
Bloodbath Friday due to MiddleEast conflict Bears used the excuse to CRASH this one.
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Zoom in (m1) for a look at the day;
We had a Gap open which acted as an "Impulse",
and its "Ripples" started getting confirmations,
so can look for some possible bear targets now.
$ 82.39 is best guess
$ 83.91 should slow it a bit
$79.96 - 80.36 could be backstop
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Note
Followup to last snapshot:Looks like that wave may have ended at the 3.618,
which does happen but not as common as the 4.236
Zooming out a bit;
Local 2.618 in confluence with original Golden fib is now CRITCIAL Support.
So we watch $90.29-90.79,
if hit then it must bounce.
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Note
Folloow up to last snapshot above:Our support zone held, and bounce got to major fib at $103.82.
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Zoom back out (h1)
We see our latest Ping rejection from 100.63,
and now we will be watching support at 96.67.
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