Currently I see MAY trading its 3rd Measured Move Short from highs. The SP bounced yesterday off the 38% fib at the 7.2s and is heading lower. The next Resistance above the 38.2 % is at the 50% at 8.4s. The stronger Resistance is at the 61.8% fib confluence with the PH @ 9.6 in mid October.
When the SP penetrates the 61.8 % fib the next pullbacks are more likely to hold as we can anticipate a potential trend change. Depending on Fundamentals too. AIMO.
Trading What I See
MAY Price at posting:
6.0¢ Sentiment: None Disclosure: Not Held
