Nucor just bounced into a major fib and key level.
Even the fib-blind are now keenly aware of this line.
This is a good sentiment read on the materials sector.
Plotted here are TWO different fib series.
1) THICK lines are its GENESIS sequence:
2) DASHED lines are the COVID STIMULUS wave:
Overlaying both fibs and highlighting the confluence zones gives us the live chart above.
Even the fib-blind are now keenly aware of this line.
This is a good sentiment read on the materials sector.
Plotted here are TWO different fib series.
1) THICK lines are its GENESIS sequence:
2) DASHED lines are the COVID STIMULUS wave:
Overlaying both fibs and highlighting the confluence zones gives us the live chart above.
the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
the Trading View is my Nation
the Moderator Tag is my Flag
Rejected from our key level and dropped EXACTLY to first fib support below
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Zoom in (1 min) at End of Day
I still expect a bit of a bounce next.
But this really does not look good :(
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