Fibonacci Fan to the Tick Accuracy

Anchoring the Fibonacci Fan at the low, we make sure price is contained by the .618 tangent on a bar closing basis. This method took us to the exact price off the open on the next day and to the high of the day at the close. The day after that (today), price declines lost momentum at the .382 tangent--notice the bars in the premarket changed from red to blue indicating the 5-35-5 MACD was losing momentum. Price then bounced off the .5 tangent to retest the .382 from below. Failure there took price to the .618 tangent which offered strong support twice, once on the declines at the open, and again on a retest after a failure at the .5 tangent. A short covering rally ensued that took price to the .382 tangent once more that resisted Futures from going higher. Prices oscillated around this level, then cleared, retraced, and finally rallied above. The .382 tangent then turned to support for the remainder of the trading day, on into the close, with the final print at 4pm resting exactly on the line.