CLE - Shaping Up To Be The Next Fortescue Metals Group., page-343

Yeah the fib 0.5 retracement level is basically at 5c, and 5c is also a key support. So there are multiple reasons why it should be a strong level where you'd want to see buyers step in. If they didn't despite those, you'd wonder why. Yesterday was good to come back above 5c so the candle in the end only wicked below and printed a bull hammer, which was better! But yeah the market is pretty tough atm. Might not bounce here straight away but if it at least holds while the market has its aneurysm that would be good acceptable. Still hasn't broken uptrend structure for now anyway. You see higher highs, and equal or slightly higher lows.