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Fibonacci Retracements Analysis 16.09.2021 (Brent, Dow)

Brent

In the daily chart, after falling and testing the first correctional target after divergence at 23.6% fibo (62.90), the asset is moving upwards and heading to break the high at 77.48. However, al long as the price is moving below this level, the market may yet start a new decline to reach 23.6%, 38.2%, 50.0%, and 61.8% fibo at 62.90, 53.88, 46.65, and 39.40 respectively.

Fibonacci Retracements Analysis 16.09.2021 BRENT_D1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

As we can see in the H4 chart, the current rising wave has broken 76.0% fibo and is approaching the high at 77.48, a breakout of which may lead to a further uptrend towards the post-correctional extension area between 138.2% and 161.8% fibo at 82.21 and 85.14 respectively.

Fibonacci Retracements Analysis 16.09.2021 BRENT_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Dow Jones

The H4 chart shows that another descending wave has re-tested 38.2% fibo. Possibly, the price may form a short-term pullback and then resume falling towards 50.0% and 61.8% fibo at 34334.0 and 34027.0 respectively. The resistance is the high at 35631.0.

Fibonacci Retracements Analysis 16.09.2021 DOW_JONES_INDEX
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 correcting upwards after convergence on MACD; it has already reached 38.2% fibo and may later continue towards 50.0% and 61.8% fibo at 35018.0 and 35138.0 respectively. A breakout of the low at 34517.0 will lead to a further mid-term correction.

Fibonacci Retracements Analysis 16.09.2021 US_30_CASH
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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