Boeing Wave Analysis – 11 March, 2020
March 11, 2020 @ 17:43 +03:00
- Boeing continues weekly downtrend
- Likely to fall to 200.00
Boeing has been falling strongly in the last few trading sessions after the earlier breakout of the support area lying between the support level 250.00 and the 61.8% Fibonacci correction of the previous weekly uptrend from 2016.
The breakout of the aforementioned support area intensified the bearish pressure on Boeing – accelerating the active weekly downtrend from the start of 2019.
Boeing is likely to fall further toward the next round support level 200.00 (target price for the completion of the impulse wave (3)).