Almost there ... have your dancing shoes ready!
The question is...... at fib 78.6 or the 88.6 fib retrace?
I'd say we'll very soon see a bounce (remember it's a monthly chart) and a possible retest a little lower at around 42.
BUT could make a possible bottom here.
The instrument is right now more oversold than ever before when looking at the the monthly RSI but a flattening has started.
For finding a similar oversold situation you have to go way back - to the 86 crash to see same RSI level.
Safe trading ladies and gents!
@BLawrenceM
Music at work
www.youtube.com/watch?v=OYpUdiiN...
open.spotify.com/tra...EDwEp82uLN3X6llJdqen
If you find my charts useful - consider following me on Twitter.
I do updates there on my TV-published charts and annonces quick scalp plays all day long.
The question is...... at fib 78.6 or the 88.6 fib retrace?
I'd say we'll very soon see a bounce (remember it's a monthly chart) and a possible retest a little lower at around 42.
BUT could make a possible bottom here.
The instrument is right now more oversold than ever before when looking at the the monthly RSI but a flattening has started.
For finding a similar oversold situation you have to go way back - to the 86 crash to see same RSI level.
Safe trading ladies and gents!
@BLawrenceM
Music at work
www.youtube.com/watch?v=OYpUdiiN...
open.spotify.com/tra...EDwEp82uLN3X6llJdqen
If you find my charts useful - consider following me on Twitter.
I do updates there on my TV-published charts and annonces quick scalp plays all day long.
