ICT has been dropping since it hit 107.30 per share. Today it fell by 3.6% at the closing breaking the 50% Fibonacci Retracement level which serves as the immediate support.
Based in recent history, the 61.8% Fibonacci Retracement level serves as a bouncing board. Will it do the same this time? It is worthy to monitor thisstock when it hit this level or near 93.52 If we will see a good candlestick by there then it would be a good entry point. If not, then wait until it hits anothersupport level, probably at 89 – 90.
RSI or Relative Strength Index has been falling and is now at oversoldlevel.
Caveat!
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