Strong Fib-R levels associated with continuation are 23.6% and 38.2%. In fact 23.6% is the favoured level (covered here) when sentiment/momentum is very strong in favour of continuation move. Should 23.6% be insufficient, the next level is 38.2%. In this particular chart, 38.2% Fib-R has support from confluence with previous resistance at 1293-1297 region in line with January 2015 high.
Soh Tiong Hum is Director of TerraSeeds Market Technician Pte Ltd. TerraSeeds is a trading educator in Singapore since 2005.
Soh's Twitter account @sohtionghum was ranked #23 out of The Top 70 Twitter Accounts To Follow In 2015 by MahiFX.
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