Bank of America recently reversed up from the support area lying between the key support level 32.30 (low of the previous wave (ii)), lower daily Bollinger Band and the 50% Fibonacci correction of the previous upward impulse from October.
The upward reversal from this support area stopped the earlier correction (iv) of the impulse wave 5 of the impulse sequence (3).
Bank of America is expected to rise further toward the next resistance level 33.65 (top of the previous impulse waves (i) and (iii) from last month).
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