50% Fibonacci Retracement Level

April 29th, 2010

For me the strongest fibonacci retracement level is the 50% levels. It’s kinda of like no-man’s land. When markets rise and fall back to that level and it holds – I see things as “half full” in a sense. So today, since pre-market futures are higher, the markets will be testing the 50% retracement level on the intra-day chart. I’d look for stocks to fail after it reaches this area below. Enjoy the trading day all!

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50% Fibonacci Retracement Level