Market Snapshots

Nike Wave Analysis – 23 July, 2020

Nike Wave Analysis – 23 July, 2020

• Nike reversed from support level 95.65

• Likely to rise to 102.50

Nike recently reversed up from the support level 95.65 (which previously revered the price twice from the start of July) – intersecting with the 38.2% Fibonacci correction of the previous impulse wave C.

The upward reversal from the support level 95.65 created the daily Japanese candlesticks reversal pattern Morning Star Doji.

Nike is likely to rise further toward the next resistance level 102.50 (top of the earlier minor correction 2 form last month).

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