Technical analysis

Visa Wave Analysis – 9 November, 2021

Visa Wave Analysis – 9 November, 2021

• Visa reversed from resistance level 220.00

• Likely to fall to support level 205.00                                                                        

Visa recently reversed down from the key resistance level 220.00 (previous multi-month support from May), intersecting with the 20-day moving average and the 38.2% Fibonacci correction of the previous downward impulse from the end of July.

The downward reversal from the resistance level 220.00 started the active minor impulse wave 3.

Visa can be expected to fall further toward the next support level 205.00 (low of the earlier impulse wave 1 from the start of November).

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