My thoughts on the current fiasco.
The following is a weekly chart showing possible movements. Note the two 'Trend based Fib extension' tools seem to find mutual support at 0.37cents within the falling channel, with a possible retrace to 0.59c (top of the channel) then forming a double bottom before a break out to 0.65~0.725c (Fib retracement 50~61.80%) .
The other possibility: it fails and may find support at 0.225c at the 200/78.60% range.
Otherwise, total failure at 0.37c on the bottom chord would be devastating.
My thoughts are on 0.37c being a catalyst either way.
Hope this helps.
My thoughts on the current fiasco.The following is a weekly...
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