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NIO has broken its upward trendline and has 38.2% correction.
Critical level was R1 that found more resistance at that level and reversed the trend.
If the price does not bounce back to the 50% or 61.8% fibo level the price might continue further down to S1 again
If the price recovers and breaks above R1 it may start a new wave on a longer time frame.
WTI has a bearish bias as we can see a downtrend line that started on 06/29 and it’s still active till today.
But the most recent data is showing a balance between supply and demand appears between 105.26 and 93.65 levels.
Investors should focus on the price and when it’s about to break.
NZDUSD has broken its uptrend line and has a small retracement at 38.2 fibo level.
A healthy retracement of the trend lasts until 50 and 61.8 levels of fibo.
If the price drops below 61.8 the trend may reversed.
If the price bounces back one of these levels, investors should expect the price to go higher.
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