- Halliburton reversed from support area
- Likely to rise to resistance level 38.70
Halliburton recently reversed from the support area between the key support level 36.00 (former resistance from February), support trendline of daily up channel from December and the 61.8% Fibonacci correction of the upward impulse from March.
The upward reversal from this support area stopped the c-wave of the previous minor ABC correction 2.
Given the strong daily uptrend, Halliburton can be expected to rise to the next resistance level 38.70, top of the previous wave b.
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By the FxPro Analyst Team
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Disclaimer
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