NASDAQ Fibo Retracement? 06.03.2023 by BDSwiss_Academy on TradingView.com
The Index has been moving rapidly upwards and over the MA50.
This is an indication of Trend reversal and it will possibly move
upwards in the medium-run. However, it is estimated to move
as previously within a channel.
That is why it is expected that it will first return to the mean. Retracement
to the 61.8% of the total move is shown with the second green arrow.
It is important that for the retracement to take place, the price breaks all indicated support levels.
