- Costco reversed from support level 870.00
- Likely to rise to resistance level 950.00
Costco recently reversed from support area between the support level 870.00 (which has been reversing the price from July of 2024), lower weekly Bollinger Band and the 38.2% Fibonacci retracement of the upward impulse from 2023.
The upward reversal from this support area stopped the previous weekly impulse wave C of the long-term ABC correction (2) from May.
Given the strong multi-year uptrend, Costco can be expected to rise to the next resistance level 950.00.
By the FxPro Analyst Team
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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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Follow our dedicated Telegram channel t.me/fxpro for insightful market analysis and expert commentary.
Reach out to media.comments@fxpro.com for PR and media inquiries
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.