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Fibonacci Retracements Analysis 21.10.2021 Brent, Dow

Brent As we can see in the H4 chart, after breaking the postcorrectional extension area between 138.2 and 161.8 fibo at 82.19 and 85.14 respectively, Brent continues growing steadily to reach the fractal high at 87.09. At the same time, there is divergence on MACD, which may indicate a possible pullback to the downside. The key support here remains the local low at 65.03.The H1 chart shows the potential shortterm downside correctional targets after divergence on MACD and a test of 86.10. If the pair fails to break the high in the nearest future, the asset may fall towards 23.6 and 38.2 fibo at 81.13 and 78.05 respectively.Dow JonesAs we can see in the H4 chart, the asset continues trading upwards; right now, it is testing the high at 35631.0, a breakout of the which will lead to a further uptrend towards the postcorrectional extension area between 138.2 and 161.8 fibo at 36440.0 and 36937.0 respectively. The key support is the fractal low at 33517.0.The H1 chart shows divergence on MACD, which indicates a possible pullback to the downside after the price finishes the ascending wave. The correctional targets may be 23.6 and 38.2 fibo at 35295.0 and 35068.0 respectively. After the pullback is over, the asset may resume trading upwards. The local support is at 34101.0.

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