Intel Wave Analysis – 05 December, 2019

• Intel falling inside impulse wave (3)
• Likely to fall to 55.45

Intel under bearish pressure after the earlier downward reversal from the resistance area lying between he resistance level 59,00 (former multi-month high from April) and the upper daily Bollinger Band.

The downward reversal from this resistance area started the active medium-term impulse wave (3).

Intel is expected to fall further toward the next support level 55.45 (low of the previous wave (iv)) – the breakout of which can lead to further losses toward the next support level 53,00.