Categories: Technical analysis

Oracle Wave Analysis 27 January, 2021

• Oracle rising inside impulse wave (3)

• Likely to test resistance level 63.55

Oracle recently reversed up sharply exactly from the round support level 60.00 (former resistance from the start of December) – which stopped the previous ABC correction 2.

The price earlier broke the daily down channel from December – which added to the bullish pressure on Oracle.

Oracle is expected to rise further in the active impulse wave (3) toward the next resistance level 63.55 (top of the (b)-wave of the aforementioned ABC correction 2).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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Tags: ORCL

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