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Dec 12, 2018 9:08 AM

BAC In a Downtrend, Potential Further Drop! Short

Bank of America CorporationNYSE

Description

BAC could pullback to its resistance at 26.24 (61.8% Fibonacci extension, 38.2% & 23.6%, horizontal pullback resistance) where it could reverse down to its support at 23.04 (100% Fibonacci extension, horizontal swing low support).
Ichimoku cloud is also showing signs of bearish pressure that contributes to our bearish bias.
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