• Bank of America reversed from resistance zone
• Likely to fall to support level 44.00
Bank of America recently reversed down from the resistance zone located between the round level resistance 50.00 (top of wave B from January) and the upper daily Bollinger Band.
The downward reversal from this resistance zone stopped the previous short-term impulse wave 1.
Given the strength of the resistance 50.00 and the bearish divergence on the daily RSI- Bank of America can be expected to fall further toward the next support level 44.00 (target for the completion of the active wave 2).
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