- Fibonacci retracement to 61.8 does point to Fibonacci extension ending between 0.786 and 1.0 (we are currently in the pocket)
- We are also hitting top of uptrend channel
- Had been in a range 155 to 193 and recent breakout of 193 could be a false breakout and fail back into range
- Pullback into range looks to find support 175
- 155 is now a very good and strong support level
- 215 remains as the top side stretch target
- Cup and Handle and top side Fib extension 1.618 points exactly to the same target of 263 (long term target)
Back to reality
- Likely break back into range below 193
- 175 is pullback support
- 155 is stronghold