What Is Fibonacci Retracement and How to Use it Fibonacci retracement is a technical analysis tool used to identify potential levels of support and resistance during a price pullback.

He utilizes the Fibonacci retracement tool for determining entry and exit points. He emphasizes the importance of understanding market drivers and the cyclical nature of commodities.

Technical analysts use four main Fibonacci-based techniques: retracements, arcs, fans, and time zones to identify potential support and resistance levels.

The benchmark index has flirted with — but has so far failed to close above — a key Fibonacci retracement target. Until it does, the downtrend is still alive.

Mr Peters said: “See this recent upwards move on Bitcoin. Connecting the low to the high using the Fibonacci retracement tool auto populates the levels.” ...

Using closing prices, the S&P 500 fell 1,161.38 points, from its Feb. 19 record close of $6,144.15 to its April 8, one-year closing low of 4,982.77. That puts the 61.8% retracement at 5,700.50, so ...