Odds Up for a Reversal

I have identified a trade setup in CME Group (CME) via a "Fibonacci price cluster," which I define as a confluence of at least three Fibonacci price relationships within a relatively tight range. These clusters identify key support or resistance decisions in the market -- and, in this case, the cluster represents potential support. It includes the coincidence of at least eight Fibonacci price relationships between $72.42 and $73.80, with a focus of these price relationships coming in at the $73.27-to-$80 area.

For this setup, I also like that the price is above both the 200- and 50-day simple moving averages, and the stock's general bullish pattern of higher highs and higher lows. Both of these support a bullish case here....237 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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