If it is unable to take out todays high (some times they go and retest the top of the channel which currently would be near or a few cents from yesterdays high) then the wave formation since yesterday highs shows something in the 5.6 area. The larger channel since the lows shows 5.25 at the bottom of that channel but it is a rising channel (slow slope) so it all depends on time. Good luck. JMHO.
BTW, I hope everyone is aware that this is not an exact science and channels always end up breaking (upside and downside) so please do your own DD and use stop losses where appropriate. Good luck. JMHO.
For those interested, I've whipped up a quick retrace calculator in Excel. Just enter the high number in the green box & low number in the orange box. Basic Fib retracements are displayed. Track multiple stocks/indicies. It's a freebie too.
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