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Fibonacci Retracements Analysis 27.05.2021 (Brent, Dow)

Brent

The H4 chart shows that after falling and reaching 50.0% fibo, Brent is trading to break the local high at 69.97 and then reach the key one at 71.07. However, as long as the high isn’t broken, there is a possibility of a reversal and a new decline towards 61.8% and 76.0% fibo at 64.09 and 62.75 respectively, and then the low at 60.46, a breakout of which may lead to a further mid-term downtrend to reach 23.6% fibo at 58.00.

Fibonacci Retracements Analysis 27.05.2021 BRENT_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

As we can see in the H1 chart, the asset is about to start a new correction after a local divergence on MACD. At the same time, one should note that the previous rising impulse has reached 76.0% fibo. In this case, the market is more likely expected to continue growing to break the highs at 69.97 and 71.07, and then reach the post-correctional extension area between 138.2% and 161.8% fibo at 72.05 and 73.33 respectively. The local support is the low at 64.50.

Fibonacci Retracements Analysis 27.05.2021  BRENT_H1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Dow Jones

As we can see in the H4 chart, Dow Jones is correcting to the upside after a divergence on MACD and, after breaking 61.8% fibo, has failed to reach 76.0% fibo at 34669.0. In this case, the asset may start a new decline soon towards the low at 33295.0, and then mid-term 23.6% and 38.2% fibo at 32970.0 and 31651.0 respectively.

Fibonacci Retracements Analysis 27.05.2021 US30CASH_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

The H1 chart shows potential downside targets after a local divergence on MACD. By now, the index has already reached 23.6% fibo but may resume growing towards the local high at 34535.0 or even break it. However, if the current decline continues, it may reach 38.2%, 50.0%, 61.8%, and 76.0% fibo at 34060.0, 33915.0, 33770.0, and 33593.0 respectively. Still, the key downside target is the local support at 33295.0.

Fibonacci Retracements Analysis 27.05.2021 DOWJONES_H1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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