- American Express broke daily down channel
- Likely to rise to resistance level 340.00
American Express recently broke the daily down channel from the end of September (which encloses the earlier ABC correction ii).
The breakout of this down channel accelerated the active impulse wave iii – which started earlier from the strong support level 320.00.
Given the strong daily uptrend and the oversold daily Stochastic, American Express can be expected to rise to the next resistance level 340.00.
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By the FxPro Analyst Team
Follow our dedicated Telegram channel t.me/fxpro for insightful market analysis and expert commentary.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.