This weekend the price bearly moved, just filled up the upperwick of the candle on Friday.
This level is a critical level. At this moment our setup is mainly bullish. But from a bearish point of view, this level could well be the shoulder2 of a head and shoulder pattern. We still need the retest of the neckline and the consequent printing of shoulder 2 of the inverse head and shoulder pattern in order to see consistent bullish reversal.
If we take the Fibonacci retracement from the inversed head and shoulders, we can see two take profit targets. The first one is at the -0.27 fib level (119K). The second one is at the -0.68 fib level (123 K)
