Technical analysis

American Express Wave Analysis 14 May, 2021

• American Express reversed from support level 150.00

• Likely to rise to resistance level 160.00

American Express recently reversed up from the key support 150.00 (former powerful resistance level from March and April) coinciding with the38.2% Fibonacci correction of the upward impulse from March.

The upward reversal from the support 150.00 started the active short-term upward impulse wave 5.

American Express is likely to rise further toward the next resistance level 160.00 (top of the previous impulse wave 3 from the start of May).

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