Monday May 20 - Back to basics, page-49

CFDSPIFutures ... Hourly FIB Chart met the 1st of its Fib range extn(blue) extreme objectives(4.236%) at today's high after starting at the 361.8% Fib level. We are current back down at the 361.8% point again(after the Huawei Ban announcement) and looking to start TRYING to fill that huge GAP up if that breaks down. But to where?  Somewhere between the top of the last consolidation range OR even as low as the 161.8% which is also very near the 2018 high(6355.5 ... lower pinks dotted line)before resuming to probably fulfil the next Fib range (orange)extreme extension somewhere near the 6592.5 level.



So, there is still unfinished work yet ... and Looking at the 4_Hourly Chart ... Basis the initial range out of the Dec. 2018 Low and the fact that its 361.8% has been exceeded in today's trading range it should signal we could  even reached that range's extreme Fib extn level ... 6639.5 ... eventually before any extended selling/consolidation starts to take place.



So, somewhere between 6592.5 and 6639.5 is still my upside objective atm.