Boeing Wave Analysis 24 March, 2021

• Boeing reversed from support zone

• Likely to reach resistance level 266.00

Boeing recently reversed up from the support zone lying between the powerful support level 242.00 (former multi-month resistance from December), upper trendline of the daily up channel from January and the 38.2% Fibonacci correction of the upward impulse (1).

The upward reversal from this support zone stopped the previous medium-term ABC corrective wave (2).

Given the prevailing uptrend – Boeing is likely to rise further in the active impulse wave (3) toward the next resistance level 266.00.