Market analysis
TOTAL2 bounced off a double support❗️
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💎On April 30, TOTAL2 had reached and rejected two technical indicators at 966.832B. The first is an 8/1 Gann Fan trendline and the second is a 0% Fibonacci level. We applied the Fibonacci so that 50% is placed right at the ascending channel breakout point. This way, Fibs show that after the breakout, the price has dropped the same distance as the width of the channel.
💎After the bounce, TOTAL2 retraced up, but failed to break a simple downtrend trendline. For the time being, we are likely to witness a short-term consolidation, between the strong psychological resistance near 1.0T and technical support at 946B.
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