MATIC repecting FIB levels;reversed off Daily MA100
As I warned last Jan 6 that MATIC may have topped-out, MATIC after it overshoot outside the up channel, indeed fell down & recently bounced from the violet MA100 with an engulfing candle.
So the probability is high that it has reversed already. Note the TP1 & TP2 using FIB levels 0.50 & 0.618 respectively. Indicators are also turning up.
Bearish Scenario still possible: even if this ma100 bounce is short-lived, the next support is the red ma200 around 1.66 to 1.77 zone,
which also coincides with the lower upchannel & is near the 0.618 retracement of the previous run up.
Not financial advice.
So the probability is high that it has reversed already. Note the TP1 & TP2 using FIB levels 0.50 & 0.618 respectively. Indicators are also turning up.
Bearish Scenario still possible: even if this ma100 bounce is short-lived, the next support is the red ma200 around 1.66 to 1.77 zone,
which also coincides with the lower upchannel & is near the 0.618 retracement of the previous run up.
Not financial advice.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.