I still get confused when resistance lines are broken or about to be broken and discussion turns to pull back. I generically understand that after a sudden growth, there will be some profit taking, but if a resistance line turns into support, is it only a Fibonacci retracement that identifies a pullback to $4,700? I mean this as semi-rhetorical as I assume the real answer includes consideration of multiple other factors like 50 and 200 day EMA, volume etc. I'm still working the course and always feel like I understand when you say it, but then the show ends and my brain chooses to join it.
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