- Price has extended below the 23.6% Fibo as well as the 20 and 50-D SMA to test below the 38.2% Fibo retracement of the Aug 2018-Feb swing lows and highs located at 1275.
- Daily momentum indicators remain bearish.
- Below here, the 200-DMA will come into play, (1249/50% Fibo area).
- On the upside, bulls need to get above 1303 with a look in at 1308 (61.8% Fibo) and the trendline resistance.
- A break of resistance opens a run back to the Feb highs and 1350.
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