Coca- Cola Wave Analysis – 12 November, 2019

• Coca- Cola broke support area
• Likely to fall to 51.00

Coca-Cola under bearish pressure after the earlier breakout of the support area lying between the support level 53.00 and the 38.2% Fibonacci correction of the previous upward impulse from May.

The breakout of this support area accelerated the active short-term impulse wave C from the start of September.

Coca-Cola is expected to fall further and retest the next key support level 51.00, which reversed the price in August and July.