Continues to slowly drift down to the 0.78 Fib and the historical yellow support line.
The price has been unable to hold the 0.618 Fib and we also got a rejection this week too at this level.
$NKE is still looking in a healthy position so as long as it holds the yellow line, Wave 3 is in play.
Bulls do not want to lose the yellow line or Wave C is a possibility.
Josh Stevens
2024-02-06 20:17:38 +0000 UTC