#firstdealofthenewyearFateema Fibonacci levels are a popular technical analysis tool used to predict potential price reversals and retracements in financial markets. Types of Fibonacci levels 1.fibonacci Retracement levels:They are used to identify potential support and resistance levels during a pullback. 2.Fibonacci extension levels:these levels are used to identify potential price targets during a trend continuation 3.Fibonacci confluence zones:these are areas where multiple Fibonacci levels converge, potentially creating strong support or resistance.