it's a fibonacci ratio along with the other lines, as you can see in it's history those line were reliable supports and resistances...this point can easily become a support point....so to answer your question, it is a "possible" resistance point that might be our future support point...
it's a fibonacci ratio along with the other lines, as you can see in it's history those line were reliable supports and resistances...this point can easily become a support point....so to answer your question, it is a "possible" resistance point that might be our future support point...