Categories: Technical analysis

Abercrombie & Fitch Wave Analysis 20 March 2024

– Abercrombie & Fitch rising strongly

– Likely to rise to resistance level 140.00

Abercrombie & Fitch previously reversed up with the daily Morning Star from the key support level 137.40 (which also reversed the price in February) intersecting with the support trendline of the daily up channel from October.

The upward reversal from the support level 137.40 started the active impulse wave 3, which is a part of the higher order impulse wave (5) from October.

Given very sharp daily uptrend, Abercrombie & Fitch can be expected to rise to the next resistance level 140.00, which stopped the price at the start of this month.

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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