Originally Posted by
winner69
I do like my self drawn chart of the ASX200 (weekly) though with my calculated Fib levels on it. What i find interesting is that the 50% level at 4922 was a period of consolidation on the way down (the blue box) and has been been a strong level of resistance on the way up. As I said on another thread it is also interesting that one could say that the ASX2000 has ranged traded for over six months between the 38.2% and 50.0% levels Maybe ASX200 at 5000 is around about a 50% Fib level ... Summary of raving - Fib levels are interesting and have a lot of merit as nature does seem to play out so often.