200 day average shows we are at a low point, shown by the white arrows and thick while lines.
We are also approaching the bottom of the triangle circa 75c
A fib shows that the 72- 74c level is the 786 retaceyment on the longer term trend line which has not yet fulfilled the $1.9 targets ( removed from this chart to make it cleaner)
if we see a break down it should hold around 60c level show by the red line. (the 8 year bull line)
The white box is the place to watch for any reversal patterns before putting in a buy
We are also approaching the bottom of the triangle circa 75c
A fib shows that the 72- 74c level is the 786 retaceyment on the longer term trend line which has not yet fulfilled the $1.9 targets ( removed from this chart to make it cleaner)
if we see a break down it should hold around 60c level show by the red line. (the 8 year bull line)
The white box is the place to watch for any reversal patterns before putting in a buy