Categories: Technical analysis

General Electric Wave Analysis 23 November, 2020

• General Electric broke round resistance level 10.00

• Likely to rise to 10.500

General Electric today broke the round resistance level 10.00 (which stopped the previous minor impulse wave at the end of last week, as can be seen below).

The breakout of the resistance level 10.00 follows the earlier breakout of the key resistance levels 8.50 (monthly high from June) and 9.30 (top of the previous impulse wave 3).

General Electric is likely to rise further toward the next resistance level 10.500 (target price for the completion of the active multi-month upward impulse sequence (C)).

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.

Share
Published by
The FxPro Tech Analysis Team
Tags: GE

Recent Posts

EURCHF Wave Analysis 20 December 2024

- EURCHF falling inside minor impulse wave 5 - Likely to fall to support level…

2 days ago

USDCHF Wave Analysis 20 December 2024

- USDCHF reversed from resistance zone - Likely to fall to support level 0.8860 USDCHF…

2 days ago

The US dollar ends the year on a strong note

The US dollar is at two-year highs. Factors such as changes in the Fed's monetary…

2 days ago

How deep will crypto dive?

The crypto market is experiencing a decline, with a potential further drop in value. Bitcoin…

3 days ago

EURGBP Wave Analysis 19 December 2024

- EURGBP reversed from support zone - Likely to rise to resistance level 0.8300 EURGBP…

3 days ago

EURJPY Wave Analysis 19 December 2024

- EURJPY broke resistance zone - Likely to rise to resistance level 165.00 EURJPY currency…

3 days ago

This website uses cookies