Categories: Technical analysis

AT&T Wave Analysis – 30 October, 2019

  • AT&T reversed from resistance zone
  • Likely to fall to 37.50

AT&T recently reversed down from resistance area lying between the key resistance level 38.60 (which stopped the previous impulse waves 3 and (i)) and the upper daily Bollinger Band.

The downward reversal from this resistance area stopped the earlier short-term impulse wave (iii) from the key support level 36.40.

Given the clear bearish divergence on the daily Stochastic indicator – AT&T is expected to fall further and retest the next support level 37.50.

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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