Good Day,
Above we can see price is stuck between 1469-->1448 range. With a heavy rejection at 1448, price shot up looking to fill demand above at 1469. There is speculation it could break further. If it does we can see an extension to 1488 where there is major resistance and matches with the corresponding FIB level .382. However that is our max range for order/volume grab and we can see a decline into the 1420 region to complete the current XABCD pattern which would also be our last fib level at .786.
Price should behave along the black lines drawn.
Happy Holidays & Wish You A Tremendous 2020
Above we can see price is stuck between 1469-->1448 range. With a heavy rejection at 1448, price shot up looking to fill demand above at 1469. There is speculation it could break further. If it does we can see an extension to 1488 where there is major resistance and matches with the corresponding FIB level .382. However that is our max range for order/volume grab and we can see a decline into the 1420 region to complete the current XABCD pattern which would also be our last fib level at .786.
Price should behave along the black lines drawn.
Happy Holidays & Wish You A Tremendous 2020