ORE looking for support. Will Senkou Span provide the support?

ORE has been dropping and can be seen to hit the support level soon which is at 50% Fibonacci Retracement level or around 1.56 This level coincide with the Senkou Span of our Kumo or Cloud. When this hits the support and form a good candlestick pattern then we may have a bounce to 1.70 – 1.73 but until then, let us just see the price action. No need to rush.

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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