Categories: Technical analysis

Facebook Wave Analysis – 20 December, 2019

  • Facebook broke resistance level 203.00
  • Likely to rise to 208.40

Facebook recently broke through the key resistance level 203.00 (which stopped the previous impulse wave (i) in November, as can be seen below).

The breakout of the resistance level 203.00 accelerated the active short-term impose wave C.

Facebook is expected to rise further toward the next long-term resistance level 208.40 (top of the previous sharp wave Ⓐ from 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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The FxPro Tech Analysis Team
Tags: FB

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