the strong resistance I drew is coincident with the 50% level of Fibonacci extension and has been tested many times in the past.
Now if the market breaks this level, the next target will be 61.8% level of Fibonacci (13966.36), and If it is also broken (due to a speculative bubble), we will move to 16954.04 (78.6% Fib level).
otherwise, the prices could dropdown, but I'm not completely with this scenario.
Now if the market breaks this level, the next target will be 61.8% level of Fibonacci (13966.36), and If it is also broken (due to a speculative bubble), we will move to 16954.04 (78.6% Fib level).
otherwise, the prices could dropdown, but I'm not completely with this scenario.
Comment:
successful reversal zone! as expected
