Saturday, September 24, 2016

Biotechnology (IBB) update

Biotechnology (IBB) is currently in an uptrend(Biotechnology(IBB) update ahead of FED decision).

Zooming in we can clearly see that IBB(60 min)  is at horizontal and trendline(pitchfork) support.RSI is now in a neutral zone after reaching overbought levels leading IBB to a healthy correction.If it breaks down there is support at 296.5 and 293 (fib+pitchfork)

Have fun!