Categories: Technical analysis

Verizon Wave Analysis – 11 December, 2019

  • Verizon approached strong resistance level 61.20
  • Likely to fall to 60.53

Verizon is currently trading close to the major, long-term resistance level 61.20 (which has persistently reversed the price from November of 2018, as can be seen on the daily Verizon chart below).

The resistance zone near the resistance level 61.20 is strengthened by the upper daily Bollinger Band.

Given the strongly overbought daily Stochastic – Verizon is expected to fall further toward the next support level 60.5 (former resistance from November).

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: VZ

Recent Posts

Bitcoin Fell Back to Local Support

Bitcoin finds support near the 50-day moving average, but further declines in the stock market…

1 hour ago

EURCHF Wave Analysis 20 December 2024

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

3 days ago

USDCHF Wave Analysis 20 December 2024

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

3 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…

3 days ago

How deep will crypto dive?

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

3 days ago

EURGBP Wave Analysis 19 December 2024

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

4 days ago

This website uses cookies