Intel Wave Analysis – 03 January, 2020

• Intel broke long-term resistance level 59.00
• Likely to rise to 63.00

Intel recently broke the multi-month resistance level 59.00 (which has been steadily reversing the price from last April, as can be seen below).

The breakout of the resistance level 59.00 accelerated the active short-term impulse wave 5 of the medium-term impulse wave (5) from August.

Intel is likely to rise further toward the next resistance level 63,00 (target for the completion of the active impulse wave (5)).