Boeing Wave Analysis – 10 February 2023

• Boeing reversed from key resistance level 12845.00

• Likely to fall to support level 204.32

Boeing recently reversed down from the key resistance level 12845.00, which is the top boundary of the sideways price range inside which the pair has been moving from the start of last month.

The resistance level 12845.00 was further strengthened by the upper daily Bollinger Band.

Given the clear bearish divergence on the daily Stochastic, Boeing can be expected to fall further toward the next support level 204.32 (lower boundary of this price range).