JPMorgan Chase Wave Analysis – 27 January, 2020

• JPMorgan Chase reversed from support area
• Likely to rise to 135.00

JPMorgan Chase recently reversed up from the support area lying between the support level 130.00 (which reversed the price with the daily Morning Star in December), upper trendline of the weekly up channel form 2019, lower daily Bollinger Band and the 38.2% Fibonacci correction of the previous upward impulse from October.

The upward reversal from this support area stopped the previous ABC correction 4.

JPMorgan Chase is likely to rise further toward the next resistance level 135.00 (former support from the start of January).