Bank of America Wave Analysis 12 November, 2020

• Bank of America reversed from resistance zone

• Likely to fall to 25.65

Bank of America earlier reversed down from the resistance zone located between the resistance level 27,50 (monthly high from August), upper daily Bollinger Band and the 61,8% Fibonacci correction of the downward impulse from February.

The downward reversal from this resistance zone started the active short-term impulse wave 3.

Bank of America is likely to fall further toward the next support level 25.65 (former monthly high from October).