The Fibonaccis For Real Estate ETF -

The Fibonaccis For Real Estate ETF

Aug 25, 2024Jeremy ParkinsonFinance, No picture0

Image Source: UnsplashFibonaccis are cool, but they only seem to work with a handful of financial instruments. It tends to be a hit-and-miss game to figure out which these are. In my estimation, one of the most “obedient” financial instruments with respect to Fibonacci retracements is the IYR, the real estate ETF.We have seen these lines provide potent levels of support and resistance for literally years at this point. The most recent occurred on Friday, when it blasted right up to its 78.6% level, which it hasn’t visited in 27 months.More By This Author:I’ll Be Your ServerThe Relative WeaknessInside Day For Tech