The highest bar which closed low was a Key Reversal. To change this to just a drop fib 38,2 must be taken out and held. Since 8 MA is down below 38,2 line and will likely continue down the rest of this week this could be the perfect place to take a long term short position. BUT it is the US market which decide this and I am very interested to see the closes for the rest of the week.
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