The market went from yesterday's highs of $169.07 to this morning's lows of $163.49. So far we've bounced to the 25% Fibonacci retracement of that move.
Here are the Fibonacci levels to watch:
38.2% at $165.90
50% at $166.50
61.8% at $167.11
Measure the potency of the down move by using retracement levels of this bounce.
So far we've had a 25%ish retracement bounce from yesterday's high of $169.07 down to today's low of $163.94. Bears will need to defend some of the higher retracement levels to have hopes of lower prices. Below there are listed. You can judge the potency of a move by the type of retracement with the next few sessions.