Those Fib circles are showing their strength again.
See how PA is pushed by them 99% of the Time.
And right now, we see PA ina tight Squeeze between horizontal Local support and that falling red 236 fib circle.
The Apex of that Bearish pennant is near the end of this month.
And, Today, depending on how Markets react to the FED Rate decision, PA could break away from this
A Push higher will meet resistance around 109K
A Drop lower would find support around 100K - 98K
And if I am going to show a Bearish side, a drop to the 4.618 at 92K is VERY possible given Macro events
We live in Hope that the Bulls Will show up
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.