February 22, 2011

ES Fibonacci levels

CHART-2
  • The golden ratio (61.8%) shown below has given good correction for bears.
CHART-1
  • ES Hour chart with fibonacci levels.
  • Price got resisted at the golden ratio(61.8%). If price breaks above 61.8% it will retest the recent high's again.
  • Price sustaining below 61.8% will favor bears.
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