Morgan Stanley recently broke through the resistance zone lying between the key resistance level 45.40 (which created two monthly highs in July and September) and the 61.8% Fibonacci correction of the previous multi-month ABC correction from April.
The breakout of this resistance area accelerated the active long-term impulse wave 3 from the start of October.
Morgan Stanley is expected to rise further and retest the next resistance level 47.60 (target price for the completion of the active impulse wave 3).
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