price is now testing major resistance area
(23.6% Fibonacci retracement
, 61.8% Fibonacci extension
, horizontal overlap resistance) and this is a key inflexion level. A strong reaction could occur at this level with the next major resistance at 1272
( Fibonacci retracement
, horizontal pullback resistance, breakout resistance level
) and our next major level of support at 1237
( Fibonacci extension
, horizontal swing low support).
(55,5,3) is seeing major resistance at 96% where a strong reaction could occur.
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