See confluence on the 22nd - 6th fall and 19th through 21st run re-tracement at the 57.5 Support level. Would be a 61% Retrace from the 22nd and a 23% trend up from the 19th. Heavy support with event up coming to test and break 62K as that looks to be major resistance due to confluence on the fib fans and fib extensions. Buying now due to heavy support. If through 62K next major resistance is 72K with not much support if bounce of 72K could be down to 65K. Will exit position if can not break 72K and wait for new support to re-enter.
New to this so any input is always welcome.
New to this so any input is always welcome.
Comentarios:
Touched the top of the major resistance around 62K and was firmly rejected. Sent all the way under the 57K Support and now at a 100% retrace from 2/20. 57K will now act as resistance for next push. Staying away from VEN until the 57K turns from resistance into support.
Comentarios:
Hit next support at 53K as charted in the red line. Next support would be 52.3K.