WTI now at 80$+See below my little gift for all posters and readers here...
A good friend of me, who is very accurate with trading graph send my the chart below on Christmas...It is made with the Fibonacci theory !!!
How is Fibonacci series used in the stock market?
It is believed that the Fibonacci ratios, i.e. 61.8%, 38.2%, and 23.6%, finds its application in stock charts.
Fibonacci analysis can be applied when there is a noticeable up-move or down-move in prices.
Whenever the stock moves either upwards or downwards sharply, it usually tends to retrace back before its next move. My understanding...if you check the chart, its original calculation predicted a little pullback before end of year 2022, see the B point. We did it, late in the day of dec 29 at around 76,79$.
The fun part, today we broke the resistance of 79,65$ and base on is assumption we may see 90$ and may be 96$ or so, very fast already in january !!!
You see this beautiful V for Victory ! :) I wish you all the best for 2023 in any part of your life !!!
