Categories: Technical analysis

Coca-Cola Wave Analysis – 09 January, 2020

  • Coca-Cola reversed from support area
  • Likely to rise to 55.30

Coca-Cola recently reversed up from the support area lying between the key support levels 53.70, lower daily Bollinger Band and the 38.2% Fibonacci correction of the previous sharp upward impulse wave (1).

The upward reversal from this support area started the active medium-term impulse wave (3).

Coca-Cola is likely to rise further toward the next resistance level 55.30 (high of the previous waves (1) from December and (B) from October).

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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