Adobe Wave Analysis – 25 October, 2019
October 25, 2019 @ 12:08 +03:00
- Adobe reversed from support zone
- Likely to rise to 274.00
Adobe recently reversed up from support zone lying between the key support level 260.00 (multi-month low from June), lower daily Bollinger Band and the 50% Fibonacci correction of the upward impulse from last December.
The upward reversal from this support area created the daily Morning Star – which stopped the earlier waves C and (B).
Adobe is expected to rise further and retest the next resistance level 274.00 (former strong support from August and September).