1. The price gives a strong jump reaching the outer resistance limit and fail to close over $4.63 and rebounds back to the supporting zone. This jump was due to traders willing to collect last week profits and soon the market will act normal.
2. At the moment, the price in the testing region @38.2% level inside the supporting zone to perform corrections around $4.50 (+/- 5%) where bulls start to enter the market.
3. Entering the resistant zone at 61.8% level (lower limit) is considering to be the first target around $4.68.
4. The second target shows very near to the first one but at limit above $4.75 and below $4.82.
5. The extreme target may start above $4.83 which is depending on political and war news coming from east Europe, USA, UN, and EU.
Tools used are Fib pattern, ZigZag ++ indicator, BB indicator, and SMA10.
2. At the moment, the price in the testing region @38.2% level inside the supporting zone to perform corrections around $4.50 (+/- 5%) where bulls start to enter the market.
3. Entering the resistant zone at 61.8% level (lower limit) is considering to be the first target around $4.68.
4. The second target shows very near to the first one but at limit above $4.75 and below $4.82.
5. The extreme target may start above $4.83 which is depending on political and war news coming from east Europe, USA, UN, and EU.
Tools used are Fib pattern, ZigZag ++ indicator, BB indicator, and SMA10.