Alibaba Wave Analysis – 19 December, 2019

• Alibaba broke resistance area
• Likely to rise to 215.00

Alibaba recently broke through the resistance area lying between the key round resistance level 60,00 and the resistance trendline of the daily up channel from the start  for October.

The breakout of this resistance area strengthened the bullish pressure on this instrument.

Given the clear daily uptrend – Alibaba is expected to rise further toward the next resistance level 215.00 (the target for the completion of the active impulse wave (C)).