The battleground area is clearly now at the blue line at $25.41, the 0.618 Fib and the 50 Day MA, there was a large flush down to just below the blue line yesterday but somehow the bulls managed to hold the price action from making a lower low or test the 0.618 Fib.
Positive move in the PM now but we need to see the blue support line held and progress back above the 50 Day MA next, which is the same situation we were in last week.
Losing the 0.618 Fib and we must consider that the 200 Day MA comes into play then at $20.
Maggi Tan
2025-01-01 06:46:29 +0000 UTCDoug Powell
2025-01-01 00:27:02 +0000 UTC