– Adobe reversed from support zone
– Likely to rise to resistance level 500.00
Adobe recently reversed up from the support zone lying between the support level 460.00, lower daily Bollinger Band and the 61.8% Fibonacci correction of the uptrend from May.
The upward reversal from the support level 460.00 stopped the previous impulse waves 3 and (C).
Given the strength of the support level 460.00, Adobe can be expected to rise further to the next round resistance level 500.00.
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