Technical analysis

Oracle Wave Analysis 27 January, 2021

Oracle Wave Analysis 27 January, 2021

• Oracle rising inside impulse wave (3)

• Likely to test resistance level 63.55

Oracle recently reversed up sharply exactly from the round support level 60.00 (former resistance from the start of December) – which stopped the previous ABC correction 2.

The price earlier broke the daily down channel from December – which added to the bullish pressure on Oracle.

Oracle is expected to rise further in the active impulse wave (3) toward the next resistance level 63.55 (top of the (b)-wave of the aforementioned ABC correction 2).

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