AIG Wave Analysis – 17 February, 2020

• AIG broke support area
• Likely to fall to 47.00

AIG recently broke sharply through the support area lying between the round support level 50.00 and the 50% Fibonacci retracement of the previous weekly upward impulse from March.

The breakout of this support area accelerated the active impulse wave 1, which belongs to the medium-term impulse sequence (C).

AIG is likely to fall down further toward the next support level 47.00 (target price for the completion of the active impulse wave 1).