Categories: Technical analysis

Philip Morris Wave Analysis – 18 February, 2020

  • Philip Morris reversed from resistance area
  • Likely to fall to 86.00

Philip Morris recently reversed down from the resistance area lying between the long-term resistance 90.00 (former multi-month high from July of 2019) and the upper daily Bollinger Band.

The downward reversal from this resistance area stopped the earlier extended upward ABC correction ② from the end of August.

Philip Morris is likely to fall further toward the next support level 86.00 (former resistance from August and December).

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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The FxPro Tech Analysis Team
Tags: PM

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