AIG Wave Analysis – 13 April, 2020
April 13, 2020 @ 18:01 +03:00
- AIG under bearish pressure
- Likely to fall to 22.50
AIG under bearish pressure after the recent downward reversal from the resistance area lying between the resistance level 27,50 (top of the previous wave B), upper daily Bollinger Band and the 38.2% Fibonacci retracement of the previous downward impulse 5 from the start of March.
The downward reversal from this resistance area stopped the earlier short-term impulse wave (i).
Given the strength of the previous daily impulse wave from February AIG Copper is likely to fall further toward the next support level 22.50.