Well there is the 61% retracement.
Now the next move is either a rally back up to 25 or a continuation down to the 21.5 level which is the target indicated by the short term range box of the last 2 weeks.
From my T/A perspective we are at the half way mark of the next projection & should rally off 23.
The gap base at 23 & 61% line should in theory be support so I would be looking to see the close above that today but 25 now looks likely to become resistance at this early stage of the day.
Never underestimate a greedy mm though & so there is a good chance that he will try getting it down lower & with now news he is in a good position to give it a crack.
I still do not believe that the gap will fill but who knows.
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Well there is the 61% retracement. Now the next move is either a...
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