Breakout Above Resistance and Fibonacci Targets

10 thg 7, 2024

This chart analysis highlights a bullish breakout above a consolidation zone, indicating a potential uptrend. The price has surpassed the Fibonacci Semesterly R1 (2,431.66) level, suggesting further upward movement towards the Fibonacci Semesterly R2 (2,541.593) and R3 (2,719.537) levels. The blue rectangle represents a period of accumulation, and the breakout is confirmed by an increase in volume. The green arrows indicate the potential price targets based on Fibonacci extensions, providing a roadmap for traders to follow. The key support level at 2,050.050 is also noted for risk management.