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24.01.202317:56 Forex Analysis & Reviews: PG reaches our first target

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Violet lines- Fibonacci retracement levels

PG stock price has reached and surpassed our first pull back target which was at the 38% Fibonacci retracement. Short-term trend is bearish as price has started making lower lows and lower highs. The RSI has reached oversold levels so a bounce is justified from current levels. Next support level is at the 50% Fibonacci retracment at $138.40. Resistance is at $143.70. I believe that bears should be cautious and protect their gains by lowering their stops. A bounce towards $146 is justified from current levels.

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