Carrefour Wave Analysis – 6 December, 2021

• Carrefour reversed from support zone

• Likely to rise to resistance level 15.25

Carrefour recently reversed up from the combined support zone made out of the strong support level 14.55 (previous monthly low from September) intersecting with the lower daily Bollinger Band.

The upward reversal from this support zone stopped the previous medium-term ABC correction (2) from the end of September.

Carrefour can be expected to rise further toward the next resistance level 15.25 (former strong support from the star foo November).