thats 3 months Fibonacci , it's based on last Friday closing, the prices indicate on the uptrend on the fib and it closed at 61.8 and 38.2 respectively according triangular fib which indicates Area of new trend formation and likely towards continuation to the uptrend started 3 months ago
notice the new trend set up on 61.8 on the big triangle and 61.8 on the new smaller triangle, which means the new scalping on the short term should be long on the dips and for position trading buy and hold longs
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