Technical analysis

AIG Wave Analysis 3 February, 2021

AIG Wave Analysis 3 February, 2021

• AIG reversed from support zone

• Likely to rise to 42.00

AIG recently reversed up from the support zone located between the key support level 36.80 (impervious monthly low from December), lower daily Bollinger Band and the 38.2% Fibonacci correction of the previous upward impulse from September.

The upward reversal from this support zone started the active medium-term upward impulse wave (3).

AIG is expected to rise further toward the next resistance level 42.00 (which reversed the previous impulse waves (5) and (1) in November and January respectively – as can be seen below).

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