This is the fibonacci retracement of the most recent bullish move and right now we are at the 236 level, which is the best place statistically to buy and expect a continuation of the bullish move if there will be one.
Initial target 29 cents there at the 1.618 if we do get bullish continuation. Low risk, high reward.
Ps: note some people draw fibonacci the other way around, so for others it wont be 236 fib but the 786 or w/e, basically the last fibonacci below which i would no longer consider this bullish.
Initial target 29 cents there at the 1.618 if we do get bullish continuation. Low risk, high reward.
Ps: note some people draw fibonacci the other way around, so for others it wont be 236 fib but the 786 or w/e, basically the last fibonacci below which i would no longer consider this bullish.