Will PX be able to reach the flat Kumo?

PX went up by 29.5% the recent week and is about to touch the 38.2% Fibonacci Retracement level. We should monitor this level because this might act as strong resistance to break. Selling pressure maybe felt at this level since we are already at the overbought level as shown in our RSI or Relative Strength Index. But there is also a promising target to consider as we see a flat Kumo at 13.56 and probably 15.19 which is at 61.8% Fibonacci Retracement level. Still, with all these possible target, one should be quick enough to act if resistance very strong as reflected by candlestick around the resistance areas.


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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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