- January 12, 2021
- Posted by: Tradingshot Articles
- Category: Uncategorized
Purely RSI and Fibonacci extension based analysis. As you see since the March bottom every Higher High is on a higher Fib extension (0.382, 0.618). Similarly, the Higher Lows have so far followed a 0.382, 0.5, 0.618 Fibonacci retracement sequence.
The RSI is currently trading sideways since mid November. In the previous two Fib cycles, this RSI consolidation came before the new Higher High. Assuming this sequence is extended, then S&P should soon make its new Higher High within the -0.786 – 1.000 Fibonacci zone, which is within 4070 – 4200.
Most recent S&P signal:
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