Adobe Wave Analysis 27 May 2024

– Adobe reversed from key resistance level 490,00

– Likely to fall to support level 460.00

Adobe recently reversed down from the key resistance level 490,00, former strong support from march.

The resistance level 490,00 was strengthened by the upper daily Bollinger Band and by the 50% Fibonacci correction of the previous downward impulse 1 from march.

Adobe can be expected to fall further to the next support level 460.00, which stopped the previous waves 3, 5 and ii.