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⋅ I'm expecting a last upward leg to 4hr MA100 will act as a resistance.
Retracement to .618 fib level before breaking the upper wedge
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⋅ As expected price has reached upper wedge resistance.
I'm expecting a .618 fib retracement from here.
Also look for support at daily MA100
these 2 will act as strong support giving us the higher low we are looking at for a reversal
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⋅ Here starts the retracement. Will the bulls manage to avoid a new low?
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⋅ Levels to look at for support:
- daily MA100
- 61.8 fib retracement
- double bottom
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⋅ Market confirms strong resistance.
Looking for support at above levels
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⋅ Market Bouncing from our first target: daily MA100 support
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⋅ This could be the higher low we were looking at