Fibo levels 0.618

The 61.8% Fibonacci level (0.618), known as the Golden Ratio, is considered the most important Fibonacci retracement level in technical analysis because it often acts as a strong support or resistance zone during a market correction. In an uptrend, a pullback to the 61.8% level followed by bullish price action may signal that buyers are regaining control and the primary trend is likely to resume. Similarly, in a downtrend, the 61.8% retracement can act as a strong resistance level before prices continue lower. Traders often combine the 61.8% Fibonacci level with candlestick patterns, trendlines, moving averages, or volume analysis to improve the probability of identifying high-confidence trade setups. $SUZLON