Categories: Technical analysis

General Electric Wave Analysis – 07 November, 2019

  • General Electric broke key resistance level 10.50
  • Likely to rise to 11.50

General Electric recently broke above the key resistance level 10,50 (which has reversed multiple upward impulses from the start of May).

The breakout of the resistance level 10.50 accelerated the active impulse wave 3 – which belongs to the medium-term impulse sequence (C) from August.

General Electric is expected to rise further and retest the next key resistance level – 11.50 (former multi-month top from February).

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: GE

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