PCOMP is down, touching 38.2% Fibonacci Retracement level

Our index fell by 3.4% last week touching our support line or the possible lower end of our range (23.6% – 38.2% Fibonacci Retracement level may be our range although its too early to say). The drop on our index was also due to the big drop by SM where it break to two SMA lines. We don’t see any bullish candlestick as of this time. Better wait for the signal.

Caveat!

Leave a Reply