Bank of America Wave Analysis – 23 June, 2022

• Bank of America continues daily downtrend
• Likely to fall to support level 31.00

Bank of America earlier reversed down from the pivotal resistance level 33.00 (former monthly low from the middle of May).

The resistance level 33.00 was strengthened by the 38.2% Fibonacci correction of the downward impulse from the start of June.

Given the clear daily downtrend, Bank of America can be expected to fall further toward the next support level 31.00 (previous low of wave (iii)).