A tech. look at the daily chart reveals that current move
and spike low almost hit the 5/8 Fib around 11000 and
price is currently trading around the swing low from the
Dec 9 which aligns with the Monthly R1 and 50% Fib .
From a daily perspective it would be good to see a close
above the 50% Fib handle , at least with bull eyes.
A close below say 12250 will be more shaky and we
might see another run at current low. A daily close
above the 3/8 Fib at 14300 may take price higher.
and spike low almost hit the 5/8 Fib around 11000 and
price is currently trading around the swing low from the
Dec 9 which aligns with the Monthly R1 and 50% Fib .
From a daily perspective it would be good to see a close
above the 50% Fib handle , at least with bull eyes.
A close below say 12250 will be more shaky and we
might see another run at current low. A daily close
above the 3/8 Fib at 14300 may take price higher.