Categories: Technical analysis

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.

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: KO

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