A possible correction before sell off

٥ ديسمبر ٢٠٢١

Based on past data, I have extended the trend-line (24% opacity) acting as SUPPORT towards the current price and a trend-line (100% opacity) acting as SUPPORT, from the 100% opacity trend-line, there is a rejection with doji/spinning tip and a Bullish candle strong enough to be compared to previous Bearish candle. if you observe the trend-line with 24% opacity it's the major trend-line drawn from previous price reaction extended to accommodate current price reaction on the level, what we are expecting is a buy above the trend-line as indicated with the arrow direction. From the Fibonacci tool, we have seen that price sold from the previous high down to the current low, a possible correction if seen would give us a retracement towards 50% fib level.

٧ ديسمبر ٢٠٢١

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