Tuesday, July 27, 2010

Interpreting Fibonacci Levels

Retracement from 61.8% level

indicates strong up-rally

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Retracement from 50% level

indicates a weak rally

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Retracement from 38.2% level

indicates an unsustainable rally

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Retracement from 23.6% level

indicates bearish pressure

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Retracement from 0% level

indicates bullish pressure

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