Technical analysis
American Express Wave Analysis – 8 November, 2021
November 08, 2021 @ 19:23 +03:00
![American Express Wave Analysis – 8 November, 2021 American Express Wave Analysis – 8 November, 2021](https://fxpro.news/wp-content/uploads/2019/10/American_Express_logo.jpg)
• American Express reversed from support level 170.00
• Likely to rise to resistance level 188.10
American Express recently reversed up from the support level 170.00, intersecting with the support trendline from January, lower daily Bollinger band, and 61.8% Fibonacci correction of the previous upward impulse from the start of September.
The upward reversal from the support level 170.00 started the active short-term impulse wave 3.
Given the clear daily uptrend, American Express can be expected to rise further toward the next resistance level 188.10 (top of the previous impulse wave 1).
![](https://fxpro.news/wp-content/uploads/2021/11/axp2-primary-analysis-nov-08-1757-pm-1-day-1024x479.png)