Major support level at ~8900 area was broken today, retracement continues.
Scenario 1: fib50 level at ~8200 holds, uptrend can continue. Entry orders can be placed, after the bounce. Stops around 8100
Scenario 2: fib50 level falls, going down can continue to 7850 (this is fib 62.8 level, also former major support line). Entry orders can be placed, after the bounce. Stops around 7700.
Scenario 1: fib50 level at ~8200 holds, uptrend can continue. Entry orders can be placed, after the bounce. Stops around 8100
Scenario 2: fib50 level falls, going down can continue to 7850 (this is fib 62.8 level, also former major support line). Entry orders can be placed, after the bounce. Stops around 7700.
Note
Scenario1 active
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.