2 sets of Fib lines drawn on this chart,
long term Bull fib ext. in Black colour &
Bear Fib ext drawn from prior 2 tops which suggests an ABC corrective pattern, expanded Flat, in play. such patterns often get extended to multiples of Golden fib ratio in worst cases.
even with worst case scenario up move of correction of the whole bear leg is well over due .
expected levels in case of an ABC upward and if more optimistic view continuation to upper levels shown on chart.
Weekly momentum , bull divergence in play, also same bull divergence seen on daily.
long term Bull fib ext. in Black colour &
Bear Fib ext drawn from prior 2 tops which suggests an ABC corrective pattern, expanded Flat, in play. such patterns often get extended to multiples of Golden fib ratio in worst cases.
even with worst case scenario up move of correction of the whole bear leg is well over due .
expected levels in case of an ABC upward and if more optimistic view continuation to upper levels shown on chart.
Weekly momentum , bull divergence in play, also same bull divergence seen on daily.