Resistance and Support (SPY)
Resistance: 429 for 200 moving average and 433 for the 61.8 Fibonacci level.
I am expecting sellers to step in at either of these levels.
I am expecting sellers to step in at either of these levels.
Support: 50% Fibonacci level at 419 should offer some form of support. That said, to highlight, there is a gap between 412 to 416, so don’t be surprised if SPY moves downwards to fill it.
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toomanyscammers : what is the meaning of 61.8? tq
Cow Moo-ney OP toomanyscammers : Fibonacci retracement level . See screenshot below![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
toomanyscammers Cow Moo-ney OP : thank youu