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A break below would have traders looking toward the 61.8% retracement area of the move up from the July low near 0.8818.
Additionally, the 100-day moving average (at 3961.33) was in close proximity to the 38.2% retracement level, and buyers promptly pushed the price above this level shortly after the open.
As the accompanying chart shows, the panic selling in KRE looks exhausted at current levels, with the sell-off stopping just short of penetrating the key Fibonacci retracement level of 78.6% at the close on 3 May.
Conversely move back below the 38.2% retracement, and the next downside target comes near the 50% midpoint of the August trading range at 144.028.
EURUSD reaches 38.2% retracement but fails this week, sellers take control with more work.
For now, the topside swing area along with the falling 200 hour moving average and 38.2% retracement is the ceiling that would need to be broken to give the buyers more control.
Having said that, if we do brake support then the 61.8% retracement at $23,300 is the next key support.
Source: https://seekingalpha.com/article/4610216-bitcoin-fear-is-in-the-air?source=feed_all_articles
However, sellers have already had a shot below this retracement level, and buyers leaned in instead, pushing the price back up to the 200-hour moving average.
Importantly, this new leg of up move has begun from a very crucial support around ₹250, where the 61.8 per cent Fibonacci retracement, 200-week moving average and a trendline supports are poised.
In fact, there’s the daily and the 4-hour red 21 moving average and the 38.2% Fibonacci retracement level.
In financial markets, moving averages are often used to analyze stock prices, exchange rates, and ot but found support buyers near the 38.2% retracement of the move up from the March low to the April high.
In the past week, it surpassed the (50%) retracement mark (~103.35).
In this case, we should see a pullback into the previous swing low level where we can also find the 50% Fibonacci retracement level and the lower bound of the channel for confluence.
Source: https://www.forexlive.com/technical-analysis/wti-crude-oil-technical-analysis-20230712/
I suggest selling Osisko between $17 and $17.35, with possible higher resistance at $17.9, and waiting for a retracement between $16.1 and $15.75 to accumulate again, with potential lower support at $15.
Key short-term resistance to watch will be at 95.70 which also coincides with the 50% Fibonacci retracement of the current minor short-term downtrend phase from 29 September 2023 high to today, 3 October current intraday low of 94.50.
Last week, the price fluctuated around the 38.2% retracement of the decline from June 2022, which is approximately $86.72.
On the 1 hour chart, we can see that we now have a good resistance zone around the broken trendline where we can find the with the downward trendline, the red 21 moving average and the 38.2% Fibonacci retracement level.
On the 4 hour chart, we can see that if we get a bounce on the trendline, there will be a strong resistance around the 4460 level as we have the of the trendline, the previous swing low level and the Fibonacci retracement levels.
On the daily chart, we can see that Ethereum fell all the way down to the 1816 where we had also the 50% Fibonacci retracement level.
Overall, I would give the buyers the small tilt for control as a price has been able to stay above the 100/200 hour moving averages and above the 38.2% retracement.