Deeper Confluence Targets EmergeIf the 50-day average fails as support, there is the confluence of two indicators near $79.30. An initial 100% projection of a falling ABCD pattern completes there and it is also the 61.8% Fibonacci retracement level of the full uptrend measured from the December low.Weekly Structure Confirms Bearish BiasThe weekly chart confirms a short-term bearish outlook as a breakdown from a weekly bearish engulfing pattern triggered below last week’s low of $91.60. That provides additio ...