FLI following the upward channel

A week ago FLI broke the Kijun Sen line that acted as the resistance but last week it proved to be a weak newly found support as price move and close below this line. We also noticed that it is near the 61.8% Fibonacci Retracement level. Another thing that is obvioius in our weekly chart is the upward trend. Could this be the moment FLI will move back to the lower slope?

If price will not be able to close at 1.46 this week then there is a greater chance FLI will move down respecting the upward channel.

Caveat!

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felix

A computer engineer by profession and loves to develop online systems/websites. A self-taught stock trader who loves to share his knowledge and enjoys learning, expanding knowledge and staying well-informed. Most often he uses candlesticks, Fibonacci Retracement levels, Ichimoku system on his technical analysis but loves to hear some rumors as well.

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