Categories: Technical analysis

China Mobile Wave Analysis – 02 December, 2019

  • China Mobile broke support level 38.60
  • Likely to fall to 36.00

China Mobile recently fell sharply with the downward gap below the support level 38.60 (which stopped the previous impulse wave (iii)).

The breakout of the support level 38.60 should accelerate the active impulse wave 3.

China Mobile is expected to fall further toward the next support level 36,00 (target price for the completion of the active impulse wave 3).

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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The FxPro Tech Analysis Team
Tags: CHL

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