Boeing Wave Analysis – 13 January, 2020

• Boeing reversed from resistance area
• Likely to fall to 321.00

Boeing recently reversed down with the daily Shooting Star from the resistance area lying between the resistance level 340.00 (top of the previous wave A from December), upper daily Bollinger Band and the 38.2% Fibonacci correction of the previous sharp downward impulse wave (3).

The downward reversal from this resistance area stopped the previous short term impulse wave C from the end of December.

Boeing is likely to fall further toward the next powerful support level 321.00 (which has been reversing the price from August).