Unilever Wave Analysis – 25 November, 2021

• Unilever broke daily down channel

• Likely to rise to resistance levels 39.60 and 40.75

Unilever continues to rise after the earlier breakout of the resistance trendline of the daily down channel from August – inside which the price has been moving from August.

The breakout of this down channel continues the active impulse wave (iii) of the longer-term upward impulse 3 from the middle of October.

Unilever can be expected to rise further toward the next resistance levels 39.60 (top of the earlier minor correction 2) and 40.75 (monthly high from September).