Bank of America recently reversed up sharply from the key support level 31.00 (former key resistance and the upper boundary of the wide sideways price range from March).
The upward reversal from the support level 31.00 started the active impulse wave 3 – which is a part of the longer-term impulse wave (3).
Bank of America is expected to rise further and retest the next resistance level – 32.20 (top of the previous impulse wave 1).
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