- Morgan Stanley reversed from support zone
- Likely to rise to resistance level 228.65
Morgan Stanley reversed from the support zone between the pivotal support level 206.40 (which stopped earlier correction ii), lower daily Bollinger Band and the 50% Fibonacci correction of the upward impulse from the end of April.
The upward reversal from this support area started the active short-term impulse wave iii which belongs to the impulse waves 3 and (C).
Given the clear daily uptrend, Morgan Stanley can be expected to rise to the next resistance level 228.65 (which stopped earlier impulse wave i in June).
- Likely to rise to resistance level 228.65
Morgan Stanley reversed from the support zone between the pivotal support level 206.40 (which stopped earlier correction ii), lower daily Bollinger Band and the 50% Fibonacci correction of the upward impulse from the end of April.
The upward reversal from this support area started the active short-term impulse wave iii which belongs to the impulse waves 3 and (C).
Given the clear daily uptrend, Morgan Stanley can be expected to rise to the next resistance level 228.65 (which stopped earlier impulse wave i in June).
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.
Reach out to media.comments@fxpro.com for PR and media inquiries
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.