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Commodities, Stocks, and Indices
Indices Updates by Solid ECN
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[QUOTE="Solid ECN, post: 208372, member: 83167"] [img]https://i.ibb.co/WHjVXsn/ebay-forum-2.png[/img] [JUSTIFY] On the daily chart, the price is falling within a narrow downwards channel, gradually approaching the support line. The key support is the channel's lower line, which coincides with the initial 61.8% Fibonacci extension trend level at 41. On the 4-hour chart of the asset, it is clear that the global decline will continue, and the channel support line is only an initial target. The global downside target is the underlying trend of 100.0% for the Fibonacci expansion, around 29. Technical indicators also confirm the high probability of further decline: fast EMAs on the Alligator indicator are much lower than the signal line, and the AO oscillator histogram is forming downward bars in the sell zone. [IMG]https://i.ibb.co/hDv1Pjh/ebay.png[/IMG][/JUSTIFY] [/QUOTE]
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