American Express Wave Analysis – 4 June, 2020

• American Express broke round resistance level 100,00

• Likely to rise to 108,700

American Express recently broke the round resistance level 100,00, standing near the 50% Fibonacci correction of the earlier sharp downward correction from February.

The breakout of the resistance level 100,00 accelerated the active impulse wave C – which is a part of the larger ABC correction (2) from march.

American Express is likely to rise further toward the next resistance level 108,700 (target price for the completion of the active minor impulse wave (iii)).