Consolidation or pullback?

I see a cluster of Fibonacci in the area 1393.00-1395.00 and I expect that area will be "hard to be broken-down" before the area 1377.00-1383.00 mentioned in the recent post.
I keep an open-mind to the idea that prices may consolidate instead of making a "real pullback" in next a few days.

If you think there is an analog between the direction change since the June 04 and the November 16, 2012, there were 4 consolidation days (but not pullback) before the move to break MA-50 in June.

No comments: