What Is Fibonacci Retracement and How to Use it Fibonacci retracement is a technical analysis tool used to identify potential levels of support and resistance during a price pullback.

Plotting Fibs on Your Charts The Fibonacci price levels on a chart are referred to as Fibs. Many charting packages have drawing tools that include Fib retracement.

Other key Fibonacci retracement levels include 23.6%, which results from dividing a Fibonacci number by the integer three places to the right, and 76.4%, which is found by subtracting 23.6 from 100.

Other Fibonacci-based numbers (such as 1.382 or 2.618) can also be useful in that regard, but the 1.618 extension is the key number.  Many people know about the Fibonacci retracement levels (and for a ...

The benchmark index has flirted with — but has so far failed to close above — a key Fibonacci retracement target. Until it does, the downtrend is still alive.

The 4-hour chart highlights a deep retracement to a key Fibonacci support level, while the 1-hour chart indicates an early impulse wave forming.

The S&P 500 just needs a little push to pull off a major technical comeback. Using closing prices, the S&P 500 fell 1,161.38 points, from its Feb. 19 record close of $6,144.15 to its April 8, one ...