Categories: Technical analysis

Coca-Cola Wave Analysis – 28 October, 2022

• Coca-Cola rising inside short-term ABC correction 2

• Likely to rise to resistance level 61.00

Coca-Cola continues to rise inside the (c)-wave of the short-term ABC correction 2 from the start of October.

The price previously broke above the round resistance level 60.00 – which added to the bullish pressure on Coca-Cola.

Coca-Cola can be expected to rise further toward the next round resistance level 61.00 (former support from September and July, target for the completion of the active wave 2).

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
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