GKP

Hi Remo/Jackozy

After yesterdays close at 189.75 and now then the DOW finishing like it did, do you see the 187 (61.8%) area having much chance of holding or is the likelihood a visit back to 172 level now looking inevitable?

Thanks
CT79

Another engulfing candlestick and ice broken beyond repair. I don't give 187 much chance here, if any.

Some interestimg days ahead.

F4T

CT79 wrote: Hi Remo/Jackozy

After yesterdays close at 189.75 and now then the DOW finishing like it did, do you see the 187 (61.8%) area having much chance of holding or is the likelihood a visit back to 172 level now looking inevitable?

Thanks
CT79

Seems to be holding up so far CT79

Not a perfect hammer at support on the hourly but not bad. Wait to see where it closes. That's the important factor for today. Needs to close above 187p initially and then a close above 199p should confirm it IMHO.

This did bounce of perfectly of the 61.8 fib level and break out point this morning.
Obviously the days young but you could have made a nice profit on a first attempt basis from that level at 186.5



dyor

if it does finish below the 61.8 fib then it could do a full retrace so bear that in mind

screencast.com/t/1XJyd5p8HjC

Seems like a fairly smooth progression so far.....
Interesting days indeed.