The Fibonaccis For Real Estate ETF
Image Source: Unsplash
Fibonaccis are cool, but they only seem to work with a handful of financial instruments. It tends to be a hit-and-miss game to figure out which these are. In my estimation, one of the most “obedient” financial instruments with respect to Fibonacci retracements is the IYR, the real estate ETF.
We have seen these lines provide potent levels of support and resistance for literally years at this point. The most recent occurred on Friday, when it blasted right up to its 78.6% level, which it hasn’t visited in 27 months.
More By This Author:
I’ll Be Your ServerThe Relative Weakness
Inside Day For Tech
I tilt to the bearish side. Slope of Hope is not, and has never been, a provider of investment advice. So I take absolutely no responsibility for the losses – – or any credit ...
more
How did you like this article? Let us know so we can better customize your reading experience.
Comments
No Thumbs up yet!
