BAC TO MAKE NEW YEARLY LOWS?= Great R/R for SHORTTechnical analysis of BAC's chart indicates strong levels of resistance at 18, and 15.25, the latter of which has just seen a completed double top in the past few weeks
This indicates that we should break lows and test lower, 9.9 and 8.27 (more significant) supports are supports we could test.
let me know what you think
Bankofamerica
Potential Bullish Butterfly ReversalMeasuring the A to B leg with fibonacci , C slams right into the .382 fibonacci retracement. If the .382 can hold it's resistance and throne, we may see possibility of a bullish butterfly completing at price $12.65, 1.27 extension level.
Although A to B extension 1.27 and C to B extension 1.628 does shows confluence, price may reject these levels as support and bounce back up. All we can do is predict. Price action is our play book, whatever price does, we follow.. Let's see what happens.
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