unsure if anyone here is into Fibs but this is what im seeing...
Running a fib to the high of 20 July at 0.455 seems to have been respected pretty decently. it hung aorund the 0.786 fib on the way up, caught resistance at the 0.618 but pushed through to the 0.382, found resistance here, moved back down and foudn support at the 0.5 then whipped up to the 0.455 cents mark, and pulled back to the 0.236 fib before running again.
Running a trend-based fib extention lined up well with the previous resiatnce points (lines in red). so far it has been text book.... found resistance at the 0.55 cents (0.5 fib on the extention) pulled back, then pushed back through to test 0.61(ish) cents (0.618 fib on the extension).
If it continues to play by these rules, next run (if it occurs) would be looking like a move to 0.68 cents, which aligns with 0.786 fib on the extention, as well as a historial resistance level. This would equate to a 25% move from todays close. Hopefully it stays above the 20 day EMA, as a move below this is my exit. In saying all this, it could also get sold out by a large fund tomorrow and be 20 points lower....
DYOR, GLTATH
lets see how it goes!
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