So far BEL has bounced at 38.2% Fibonacci Retracement level we have drawn last time. Today it broke the resistance at 23.6% Fibonacci Retracement level. Will itcontinue to go up and hit the 5.52? We still have the threat from Kijun Sen line which is still moving horizontally.
Although it has a bullish bias as of this time, it is very important that the newly found support will hold or else the break is a failed one.
Caveat!
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