FB ANALYSIS

Facebook is in a massive downtrend going all the way from 380 to 320 but this past 2 weeks the price is settling around the 320 level. The big support zone is at the 300 Levels where it coincides with the recent impulse 618 fib level. That’s the big buy zone in my opinion and we might see those levels being visited in the next weeks.

If FB turns a green candle in the next weeks we might see a trend reversal and a possible revisit of 380 Levels.

Be careful with entering on longs though since it’s a falliing knife right now and it could still see some lower lows being created, at the 250 mark.