So RIG has been on a huge surge upwards since the end of October, clearly creating some bullish momentum.
Recently the major resistance of USD 1.60-1.80 has been broken upward.
Now I'm looking for a retracement that will provide a good entry point.
Both the 0.318 fib (which for now already has created some support around USD 1.96-2.01) and the 0.5/0.618 fibs are areas to watch.
I'm inclined to say that the 0.5/0.618 fibs are more likely to be retested as they line up exactly with the former major resistance we recently broke (1.60-1.80 as mentioned before).
But we'll have to simply wait and see where a clear sign of support will be formed and then enter the market.
Recently the major resistance of USD 1.60-1.80 has been broken upward.
Now I'm looking for a retracement that will provide a good entry point.
Both the 0.318 fib (which for now already has created some support around USD 1.96-2.01) and the 0.5/0.618 fibs are areas to watch.
I'm inclined to say that the 0.5/0.618 fibs are more likely to be retested as they line up exactly with the former major resistance we recently broke (1.60-1.80 as mentioned before).
But we'll have to simply wait and see where a clear sign of support will be formed and then enter the market.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.