Ford Wave Analysis – 24 February, 2020
February 24, 2020 @ 16:44 +03:00
- Ford broke support level 8.00
- Likely to fall to 7.6
Ford recently broke below the support level 8.00 (which stopped the previous sharp downward impulse wave 1 at the start of February, as can be seen below).
The breakout of the support level 8.00 accelerated the active impulse wave 3 and (3) – both of which belong to the powerful downward impulse wave ③ from December.
Given the clear daily downtrend and the strength of the active impulse wave 3 and (3) – Ford is likely to fall further toward the next support level 7.6 (forecast price for the completion of the active impulse wave (3)).