Technical analysis

Adobe Wave Analysis 4 March, 2021

Adobe Wave Analysis 4 March, 2021

• Adobe reversed from support level 440.50

• Likely to rise to 471.45

Adobe recently reversed up from the key support level 440.50 (which has been reversing the price from the start of August).

The support zone near the support level 440.50 was strengthened by the lower daily Bollinger Band and by the 38.2% Fibonacci correction of the earlier upward impulse wave from last April.

Adobe is likely to rise further toward the next resistance level 471.45 (top of the previous minor correction (ii) from last month).

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