Market Snapshots

Google Wave Analysis – 16 July, 2020

Google Wave Analysis – 16 July, 2020

• Google reversed from resistance area

• Likely to fall to 1475.00

Google recently reversed down from the resistance area standing between the multi-month resistance level 1530.00 (which stopped the sharp uptrend in February) and the upper daily Bollinger Band.

The downward reversal from this resistance area created the daily Japanese candlesticks reversal pattern Dark Cloud Cover.

Google is likely to correct down further toward the next support level 1475.00 (former Double Top reversal pattern from last month).

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