Technical analysis

Boeing Wave Analysis – 14 July 2023

– Boeing reversed from resistance level 220.00

– Likely to fall to support level 210.00

Boeing recently reversed down from the pivotal resistance level 220.00 (top of the multi-month sideways price range inside which the price has been moving from February).

The downward reversal from the resistance level 220.00 started the active minor impulse wave (iii).

Given the strength of the resistance level 220.00, Boeing can be expected to fall further toward the next support level 210.00, middle of this sideways price range.

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