Categories: Technical analysis

BMY Wave Analysis 21 January, 2021

• BMY reversed from major resistance level 66.10

• Likely to test support level 64.00

BMY recently reversed down from the major resistance level 66.10 (monthly high from October) – standing well above the upper daily Bollinger Band.

The same resistance level 66.10 reversed the price sharply at the beginning of January – which started the previous sharp downward impulse wave (C).

BMY is expected to fall further toward the next support level 64.00 (former monthly high 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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Tags: BMY

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