On the other way, the reversal above the 38.2% Fib at 119.66 opens the door for a challenge of the 38.2% Fib expansion at 120.68.
Resistance | Support |
---|---|
119.66 | 118.93 |
120.68 | 118.20 |
121.41 | 117.30 |
Prices are wedged too closely between near-term support and resistance levels to justify taking a trade on a long or short side from a risk/reward perspective. With that in mind, we will continue to stand aside until a more attractive opportunity presents itself.