Elastos: 4 very interesting Fibonacci confluences
3 Fibonacci grids drawned:
1: Fibonacci retracement from November high to 15 February swing low
2: Fibonacci extension from 15 February low to 9 March swing high
3: Fibonacci extension from 15 February low to 3 April swing high
Confluences provides 4 very interesting resistance / support levels (if confirmed) to watch for ((x) indicates above drawned Fibonacci grids):
A: Confluence between (2) 1.618 and (3) 0 / 9 March swing high at ~4.55 USD
B: Confluence between (1) 0.382 and (3) 0.236 levels at ~5.2 USD
C: Confluence between (1) 0.5 and (3) 0.618 levels at ~6.2 USD
D: Confluence between (1) 0.618, (2) 4.236 and (3) 1.0 levels at ~7.25 USD
Interesting to follow, whether the above confluences will be respected in an upturn.
1: Fibonacci retracement from November high to 15 February swing low
2: Fibonacci extension from 15 February low to 9 March swing high
3: Fibonacci extension from 15 February low to 3 April swing high
Confluences provides 4 very interesting resistance / support levels (if confirmed) to watch for ((x) indicates above drawned Fibonacci grids):
A: Confluence between (2) 1.618 and (3) 0 / 9 March swing high at ~4.55 USD
B: Confluence between (1) 0.382 and (3) 0.236 levels at ~5.2 USD
C: Confluence between (1) 0.5 and (3) 0.618 levels at ~6.2 USD
D: Confluence between (1) 0.618, (2) 4.236 and (3) 1.0 levels at ~7.25 USD
Interesting to follow, whether the above confluences will be respected in an upturn.
Penafian
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