Categories: Technical analysis

Bank of America Wave Analysis – 16 October 2025

Bank of America: ⬇️ Sell

– Bank of America reversed from resistance zone

– Likely to fall to support level 49.00

Bank of America recently reversed from the resistance area between the key resistance level 52.65 (which stopped the sharp uptrend in September) and the upper daily Bollinger Band.

The downward reversal from resistance zone created the daily Japanese candlesticks reversal pattern Bearish Engulfing.

Given the strength of the resistance level 52.65 and the bearish divergence on the daily Stochastic, Bank of America can be expected to fall to the next strong support level 49.00 (former double top from July).

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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The FxPro Tech Analysis Team

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