Categories: Technical analysis

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).

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.

Share
Published by
The FxPro Tech Analysis Team
Tags: PG

Recent Posts

EURCHF Wave Analysis 20 December 2024

- EURCHF falling inside minor impulse wave 5 - Likely to fall to support level…

2 days ago

USDCHF Wave Analysis 20 December 2024

- USDCHF reversed from resistance zone - Likely to fall to support level 0.8860 USDCHF…

2 days ago

The US dollar ends the year on a strong note

The US dollar is at two-year highs. Factors such as changes in the Fed's monetary…

2 days ago

How deep will crypto dive?

The crypto market is experiencing a decline, with a potential further drop in value. Bitcoin…

2 days ago

EURGBP Wave Analysis 19 December 2024

- EURGBP reversed from support zone - Likely to rise to resistance level 0.8300 EURGBP…

3 days ago

EURJPY Wave Analysis 19 December 2024

- EURJPY broke resistance zone - Likely to rise to resistance level 165.00 EURJPY currency…

3 days ago

This website uses cookies