Could the Rupee Test 88 Again?

A weaker rupee is certainly a possibility. The caveat is that if the rupee climbs above the neck-line (viz. 85.79) the S-H-S target is aborted

- JAMAL MECKLAI CEO, Mecklai Financial www.mecklai.com

IN MATHEMATICS, a Fibonacci sequence is where each number is the sum of the two numbers that precede it. Starting from 0 and 1, the sequence begins 0, 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144...

The Fibonacci numbers were first described in India as early as 200 BC in Pingala's work on enumerating possible patterns of Sanskrit poetry formed from syllables of two lengths. They are named after the Italian mathematician Leonardo Bonacci of Pisa, also known as Fibonacci, who introduced the sequence to the western world. They appear to reflect the natural world as the numbers describe observations of the branching in trees, the arrangement of leaves on a stem, the number of seeds in succeeding rings of a sunflower, the spiral shape of waves, etc. (Wikipedia plus)

Since these are recurring patterns in nature and since markets are, in many senses, a reflection of nature, the science of technical analysis has evolved and uses patterns based on Fibonacci numbers to try and forecast markets. I have looked cursorily at the discipline, and am very, very, very much an amateur, but I certainly find it curious since it reflects my belief that everything everywhere is connected and, indeed, one.