Categories: Technical analysis

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.

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: Boeing

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