MER’s power interrupted. Blackout?

MER failed to maintain the horizontal channel it created. Last week, with only two trading days, MER fell by more than 5% and is currently positioned below the 76.4% Fibonacci Retracement level. Although we have an indecisive mood among traders last Friday, the bullish sentiment may continue to disappear. There might be a few spikes along the way but notice that price is having a hard time staying the 20-day SMA line

Caveat!

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