$BABA TOP 20
Added 2024-06-07 14:30:13 +0000 UTCBulls have managed to do their job this week and hold support comfortably on the 200 Day MA and go into next week ready to battle again.
We can see that the HSI has held a crucial support level on the 0.38 Fib to end the week too.
The 50 Day MA is also moving up to the price action here too and sits on the 0.618 Fib, offering further support if the price action unexpectedly flushes down below the 200 Day MA....but I do not expect that to happen today.
The confluence level, where the 50, the 200 Day, between the 0.5 - 0.618 Fib range and our red support line makes this a very important level to be held and I think it will hold.
