Technical analysis

Verizon Wave Analysis 1 February, 2021

Verizon Wave Analysis 1 February, 2021

• Sugar reversed from resistance area

• Likely to fall to support level 53.75

Verizon recently reversed down from the resistance area lying between the key resistance level 56.00 (former powerful support from October) and the lower trendline of the recently broken down channel from December.

The downward reversal from this resistance area continues the (c)-wave of the active medium-term ABC correction 2 from the start of December.

Verizon can be expected to fall further toward the next support level 53.75 (July’s low) – followed by 52.80 (June’s low).

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