Multiple factors point towards a fib retrace starting here, if it can hold the .236 fib at approx 1901.6.
Inverse head and shoulders formation, we also had a RSI breakout at the bottom of the move.
We have also potentially broke back up into the descending triangle which we broke down from. Looks like the .382 could meet with the descending trend line and would be the approximate measured move of the inverse had and shoulders at 1934. We can take some profits there and see what happens.
Want to be my first follower? Criticism welcome and appreciated!
Inverse head and shoulders formation, we also had a RSI breakout at the bottom of the move.
We have also potentially broke back up into the descending triangle which we broke down from. Looks like the .382 could meet with the descending trend line and would be the approximate measured move of the inverse had and shoulders at 1934. We can take some profits there and see what happens.
Want to be my first follower? Criticism welcome and appreciated!