By Peter Stoneham — Jan 16 - 03:05 AM
Removal of 61.8% Fibo, 1.2215, of 1.2446-1.1842 drop Frid
Early Mon and a pullback from 1.2288 bull run high
Long upper candle shadow bearish but likely just corrective
Next Fibo is at 1.2303 then 1.2446 high from Dec. 14
The 55DMA is poised to cross above the 200DMA line, bullish
Daily momentum confirming the new high but RSI flat lining
We lean bullish but are side lined for now
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Source:
Refinitiv IFR Research/Market Commentary