Categories: Technical analysis

General Electric Wave Analysis – 27 January, 2023

• General Electric broke key resistance level 80.62

• Likely to rise to resistance level 87.500

General Electric earlier broke above the key resistance level 80.62 (which stopped the previous short-term upward impulse wave 3).

The breakout of the resistance level 80.60 accelerated both of the active impulse waves 5 and (3).

Given the clear multi-month uptrend, General Electric can be expected to rise further toward the next resistance level 87.500 (target price for the completion of the active impulse waves 5 and (3)).

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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