SECB bounced off from support line, gap is closed

SECB closed the gap last Thursday, one week after it created a gap. Last Friday we saw SECB went up by 5% walking away from the 23.6% Fibonacci Retracement level. Looks like it will continue to go up but let us first deal with the 38.2% Fibonacci Retracement level (see chart) where as we have observed have an interesting fight between bears and bulls. During that time it was the bears who won the fight which made SECB dropped even more. This time the bulls will try to make a comeback and may be able to win it. That line is around 145.00

Caveat!

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