SYR chart

Hi Folks

With all this recent action I thought it was about time to revisit the SYR weekly charts.

You will see on this chart I have included FIB's to make some projections of where we could be heading.

For the FIB's I used the low of 0.15 ( Mar 2020 ) and the high of 1.61 ( Aug 2021). We had a profit taking retrace back down to 0.99 in Oct which was about a 41% retrace fairly normal. Once we passed the 1.61 level I realised that we a heading high with some FIB extentions which I have shown on the chart. Ext 23.6% = 1.95 , Ext 38.2% = 2.17 and finally Ext 50% = 2.34 (unlikely) So I would not be surprised if we got to somewhere in the 2.10 region with this current upwards run. There will be a profit taking retracement at some time after it reaches the peak of this run

Other things to notice on my chart both the Macd and Stocks are positive and the weekly RSI (5) is strong. Also notice that the 10WMA had been falling in Oct and Nov but it bounced off the 40WMA and its rising steadily and that the 40WMA is also beginning to rise,

All good signals.

Just the way I deal with the markets so that I am not surprised by what plays out, as always DYOR.

Good luck folks , cheers Lies