Yes its a short term 62% Fib at 098, the long term daily retrace was around the 62% Fib which is good enough (it was actually an exact 76.4% Fib of the last big run from 046c to 21c ..w3 or w5 whatever that mysterious one was!)..but the main trade were all looking for here is the wave 3 in the weekly time frame this one has always been pretty clear imo...it also fits in very well with the current fundamantals now on the short road to off takes and production...wave 3s most often being the biggest of the waves due to rapidly increasing fundamaentals..being a weekly trade obviousy its quite a bit slower also
Yes its a short term 62% Fib at 098, the long term daily retrace...
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