we are currently at strong resistance point... if the bulls manage to break through this, they will head up to 450 to test the next point... if the resistance is too strong it will fall....If it does fall, it can fall as low as 93...let's hope we have the strength to conquer this resistance point
how do we know this is a resistance point.
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it's a fibonacci ratio along with the other lines, as you can see in it's history those line were reliable supports and resistances...this point can easily become a support point....so to answer your question, it is a "possible" resistance point that might be our future support point...
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