BDO may continue to rise and hit 127.2% Fibonacci Retracement level

BDO is currently having some headwinds at 80 but a break from this may bring the price to previous recent high and up to 85.31 Daily chart is showing a bullish sentiment where Chikou span, tenkan sen and kijun sen lines are all in green mood. Immediate support is at 78.50 or 78.6% Fibonacci Retracement level. BDO could have fallen to as low as 74.95 but the Kijun Sen has bent and this line has a weak power to attract the price from coming near it.

In our weekly chart, we still have to see some bullish signal from Ichimoku elements. Price is currently about the Senkou Span B which is our support and that is around 78.95, quite near with our 78.50 support on daily chart. On the other hand Senkou Span A is at 85 which also in harmony with our 85.31 projected price.

Caveat!

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