After doing some research on Fib Fans I found the way the fan tracks this movement to be almost a text book recipe for what will be a bullish head and shoulders reversal.
The lowest low is obscured by the volume bars, i apologize… However, I believe this is a fair outlook that supports the theory that we should see this bearish trend die. Ideally for bears we could be looking at mid to upper 200s, however I personally feel from watching the price action of the ticker that we don't have much gas beyond 350.
I'm not very good at speaking to how the fib fans operates however the retracement lines support this movement, if anyone would like to confirm or kill my theory please do so.
I am bullish after this for the long-term.
The lowest low is obscured by the volume bars, i apologize… However, I believe this is a fair outlook that supports the theory that we should see this bearish trend die. Ideally for bears we could be looking at mid to upper 200s, however I personally feel from watching the price action of the ticker that we don't have much gas beyond 350.
I'm not very good at speaking to how the fib fans operates however the retracement lines support this movement, if anyone would like to confirm or kill my theory please do so.
I am bullish after this for the long-term.