Intel Wave Analysis – 29 October, 2019

• Intel rising inside impulse wave C
• Likely to rise to 59.0

Intel recently broke with the sharp upward gap above the key resistance level 53.00 (which previously reversed the price strongly in July, September and also in the middle of October).

The breakout of the resistance level 53.00 accelerated the active impulse wave C of the ABC correction (2) from May.

Intel is expected to rise further and retest the next round key resistance level 59.0 (multi-month high from April and the target for the completion of wave (2)).