Good news is that we have started our pull back after rejecting at the 2.618 Fib yesterday after another strong bounce and the second part of the good news is that the pull back is half way complete too.
I shared this chart yesterday too and showed that the 0.38 Fib is at $50 now, so this pull back has been coming and not a surprise to see if happen after a euphoric day like yesterday.
The 50 MA on the 1hr chart is at $53 now, this is also an area of interest for us too....but we need to see 3 waves down, this is just one wave down today, so there will be a bounce, followed by another leg down.
I will update this as it happens.
Jorge Cardenas
2025-02-23 04:41:10 +0000 UTCNighthawk
2025-02-21 02:42:35 +0000 UTCDavid-Ted
2025-02-20 19:00:05 +0000 UTCGareth Neary
2025-02-20 16:15:14 +0000 UTCHS
2025-02-20 16:00:35 +0000 UTCMuaSer
2025-02-20 15:50:15 +0000 UTC