Lufthansa Wave Analysis – 18 November, 2021

• Lufthansa reversed from resistance level 7.000

• Likely to fall to support level 5.35                                                                           

Lufthansa continues to fall after the earlier downward reversal from the strong round resistance level 7.000 (former strong support from 2020).

The resistance zone near the resistance level 7.000 was strengthened by the 38.2% Fibonacci retracement of the earlier weekly downward impulse wave (5).

Given the multiyear downtrend Lufthansa can be expected to fall further toward the next support level 5.35 (low of the previous impulse wave (5)).