- Microsoft reversed from resistance zone
- Likely to fall to support level 508.00
Microsoft recently reversed down from the resistance zone between the key resistance level 546.00 (which stopped impulse wave (1) in July), resistance trendline of the daily up channel from September and the upper daily Bollinger Band.
The downward reversal from resistance level 546.00 started the active short-term ABC correction 2.
Having just broken the aforementioned up channel from September, Microsoft can be expected to fall to the next support level 508.00, target price for the completion of the active ABC correction 2.
- Likely to fall to support level 508.00
Microsoft recently reversed down from the resistance zone between the key resistance level 546.00 (which stopped impulse wave (1) in July), resistance trendline of the daily up channel from September and the upper daily Bollinger Band.
The downward reversal from resistance level 546.00 started the active short-term ABC correction 2.
Having just broken the aforementioned up channel from September, Microsoft can be expected to fall to the next support level 508.00, target price for the completion of the active ABC correction 2.
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.