Categories: Technical analysis

IBM Wave Analysis – 06 February, 2020

  • IBM broke long-term resistance level 152.00
  • Likely to rise to 160.00

IBM recently broke through the powerful long-term resistance level 152.00 (which stopped the earlier sharp upward impulse sequence (1) in August).

The breakout of the resistance level 152.00 accelerated the active short-term impulse wave 3 – which belongs to the medium-term impulse sequence (3) from the start of December.

IBM is likely to rise further toward the next round resistance level 160.00 (top of the previous impulse wave (i)).

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: IBM

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