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Suggested target to FRA.IDX up to 1/Feb/17

Price action has created a new structure and I am making a projection of the range with zigzag.
This can give to me a target of 5000, that represent the 161% Fibonacci extension.
The RSI can tell me that index is not oversold yet.
The chart below is showing us the analysis.
Indicators:
  • ZigZag(30)
  • RSI(14)
  • Fibonacci Levels
  • Support / Resistance levels
  • EMA(30)
This chart is showing the forecast:
Suggested target to FRA.IDX up to 1/Feb/17 is [5000]
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Elens94 avatar
Elens94 19 Dec.

great

Beto avatar
Beto 3 Jan.

Update:
Today price is going about 4900, 100 units below the booked target.
Money flow indicator is above the 65 level, and momentum indicator is on positive area going up.
So I think after 4 weeks price could pass the target.
I am still confident in my initial prediction.

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