Price has clearly bounced at the 61.8% Fibonacci and broken the resistance (magenta). The wave Y (red) are the first targets for an upside trend, although horizontal resistance must always be taken into account.
Price has clearly bounced at the 61.8% Fibonacci and broken the resistance (magenta). The wave Y (red) are the first targets for an upside trend, although horizontal resistance must always be taken into account.
Price stopped at the 61.8% Fibonacci retracement level and seems to be close to support (green and blue). A break above resistance (magenta) could indicate the completion of wave X (red) and a potential break out (green arrows).