UPS Wave Analysis – 28 October, 2021

• UPS reversed from multi-month resistance level 219.00

• Likely to fall to support level 205.00                                                                        

UPS continues to fall after the price reversed down from the multi-month resistance level 219.00 (which stopped the previous shaper uptrend at the start of May) – which started the active correction 2.

The resistance zone near the resistance level 219.00 was strengthened by the upper daily Bollinger band.

Given the strength of the resistance level 219.00, UPS can be expected to fall further toward the next support level 205.00.