Technical analysis

Google Wave Analysis 17 August 2023

– Google reversed from support level 127.90

– Likely to rise to resistance level 132.50

Google recently reversed up from the pivotal support level 127.90 (former strong resistance from the start of June), coinciding with the 20-day moving average and the 38.2% Fibonacci correction of the upward impulse from July.

The upward reversal from the support level 127.90 stopped the previous short-term ABC correction ii.

Given the clear daily uptrend, Google can be expected to rise further toward the next resistance level 132.50 (top of the previous minor impulse wave 1).

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