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Nov 07 - 01:55 PM

Ether - Bulls Clear A Hurdle, May Target Key Fibo, August's High

By Christopher Romano  —  Nov 07 - 11:35 AM
  • Ether rallied above 2820/40 resistance then hit a 3-month high of 2881.16

  • Longs face another hurdle, 38.2% Fib of 4093.70-2149.53 drop sits at 2982.20

  • Break of that Fib possible; rising daily, monthly RSIs imply upward momentum

  • Should that Fibo break the 50% Fibo of the same drop, August high in focus

  • If stocks ESv1, gold XAU= rally more & US$ =USD sinks Ether may rally

  • Fed meeting risk looms, 25bps cut expected; Powell's presser is key

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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