On the way to 40s area, there is also substantial resistance around 2020.
It includes two sublevels: 22-24 and 13-14, below which ES finished Friday.
JI
jimkane
Rep: 3,058
Posts: 33,089
So, I'm perusing over at Zero Hedge, and one guy mentions "...a 76% Fibonacci retracement." This gets the following reply from a guy: "Fibonacci is mumbo-jumbo." I guess I should be glad, it's people like these that make what we do possible... Instead, though, it mostly just p#%$es me off.
MA
MarcinO
Rep: 67
Posts: 5,506
So they are useful, unlike random walk theory supporters, who stay away from the markets.
Originally posted by jimkane
So, I'm perusing over at Zero Hedge, and one guy mentions "...a 76% Fibonacci retracement." This gets the following reply from a guy: "Fibonacci is mumbo-jumbo." I guess I should be glad, it's people like these that make what we do possible... Instead, though, it mostly just p#%$es me off.
MA
MarcinO
Rep: 67
Posts: 5,506
That my provide some interesting context on Monday. Later during the week US/FOMC information will be more important.
http://www.zerohedge.com/news/2016-03-13/merkel-heading-humiliation-state-elections-swing-anti-immigrationists
http://www.zerohedge.com/news/2016-03-13/merkel-heading-humiliation-state-elections-swing-anti-immigrationists





