on the candlechart for US AMEX on $$N:
Technical retracement at 1.5 is within the range of 61.8 level.
The final candle formed has long upper and lower shadows which can be concluded as 'high wave candle', i.e. the market is confused and neither bulls or bears is in control. In my opinion, because the market opened significantly lower than previous days close but bulls regained control after two trading hours and took it even at 1.56 and closed at 1.50.
The retracement is healthy for the uptrend and may even trade sideways to form another momentum.
Let's wait how the market will behave when all dusts has setlled.
on the candlechart for US AMEX on $$N:Technical retracement at...
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