Here is a daily chart with the Fibs from last months candle slapped on it. 1.59 (which is bbakkers call) is the 0 fib from last month. SO.... if we do not break it.....DOWN SHE GOES... However, if we do.. we see 1.61 to 1.6250 (which are the 138.2 and 161.8 extension)
Amazingly the 161.8 extension happens to also be the 0 fib line from the 4th quarter of last year.
If you want I can continue...
Bottom line (I do agree with bbakkers call) however playing it cautiously, I want to see a bounce from it.Ignored
All systems of divination, like music itself,work through patterns.