LTG looking for another support after breaking from the 61.8% Fibonacci Retracement level

The bulls where not able to contain the bears on LTG. Price fell today below the support line 61.8% Fibonacci Retracement level. This might continue to fall and find support at 16.75 per share. Once it is near that price we will see if there will be a good candlestick formation. Today’s movement shows a weak bearish signal via the Kijun Sen cross. This line will act as our immediate resistance.

RSI or Relative Strength Index is at 38.

Caveat!

Leave a Reply