Simply taking the measured move from the most recent high to low, the target 123.6% fib is right around the $5,800 area. I'd like to go long just above the target fib, but slightly below the double bottom area.
My thought is that we overshoot slightly through the double bottom area then get bought up back to $6,500 area.
Let's see what happens!
My thought is that we overshoot slightly through the double bottom area then get bought up back to $6,500 area.
Let's see what happens!
Commentaire:
Looks like we are testing the backside of that long-term trend line. Levels that are resistance to the upside include $7,200, $7,500 and then $7,800-$8,000.