- Ferrari reversed from resistance zone
- Likely to fall to support level 387.00
Ferrari recently reversed down from the resistance zone between the resistance level 427.00 (former monthly low from August), upper daily Bollinger Band and the 38.2% Fibonacci correction of the downward impulse c from October.
The downward reversal from this resistance zone started the active short-term correction ii.
Ferrari can be expected to fall further to the next support level 387.00 (former low of wave b from the end of October).
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By the FxPro Analyst Team
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Disclaimer
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