Procter & Gamble Wave Analysis 16 December, 2020

• Procter & Gamble reversed from support level 134.70

• Likely to rise to 139.50

Procter & Gamble recently reversed up from the pivotal support level 134.70 (which has been repeatedly reversing the price from the middle of August).

The support area near the support level 134.70 was strengthened by the lower daily Bollinger Band and by 38.2% Fibonacci retracement of the previous upward impulse from June.

Procter & Gamble is expected to rise further toward the next resistance level 139.50 (top of the previous minor retracement from the start of December).