Ebay Wave Analysis 29 January, 2021

• Ebay reversed from long-term resistance level 60.15

• Likely to fall to support level 54.00

Ebay continues to decline inside the short-term correction (ii) which started earlier from the long-term resistance level 60.15 (which stopped the sharp uptrend in July).

The active correction (ii) belongs to the medium-term upward impulse wave (3) from the end of December.

Ebay is expected to fall further toward the next support level 54.00 (intersecting with the 38.2% Fibonacci correction of the previous sharp upward impulse wave from November).