Will BEL bounce at 38.2% Fibonacci Retracement level?

BEL has retraced by 38.2% after it rallied to 5.52 per share few days ago. Aside from the 38.2% Fibonacci Retracement level that act as its support, it is also near the Kijun Sen line which will add support for the price not to go down further. Thus, it is very important to monitor BEL tomorrow. If we will have a good candlestick pattern then it might bounce, otherwise it will continue to move down with next support at 5.09

RSI or Relative Strength Index has dropped to 52 today.


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