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Re: KCH2020 Fibonaccis
It is important that the market hit the 62% Fibonacci retracement and closed near the highs of the day.I would get long tomorrow with a stop around 11350.The market as you point out is in a buy weekly signal.The monthly 8 exp and the 20 ma’s are around 11550/11600, so the are also very close to cross north and generate a monthly buy signal, something not seen in a long time.Also the daily RSI4 has been in the lows for the last few days in an over sold area. So in essence I think is an opportunity to get long. If the market starts to close above 11900 tomorrow, it would be a good sign to visit 12500-12600 area in the short term.