• 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).
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