– Boeing reversed from the resistance zone
– Likely to fall to support level 177.10
Boeing recently reversed down from the resistance zone between the multi-month resistance level 187.45 (which has been reversing the price from last July) and the upper daily Bollinger Band.
The downward reversal from this resistance zone stopped the C-wave of the previous ABC correction (2) from November.
Given the strength of the resistance level 187.45 and the overbought daily Stochastic, Boeing can be expected to fall to the next support level 177.10 (low of the earlier correction ii).
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