August 20, 2020 at 03:19PM
• Nike broke multi-month resistance level 104.50
• Likely to rise to 110.00
Nike recently broke above the key multi-month resistance level 104.50 (which has been reversing the price from the middle of January – as can be seen from the daily Nike chart below).
The breakout of the resistance level 104.50 accelerated the active different-length impulse waves 3 and (3).
Given the clear multi-month uptrend – Nike is likely to rise further toward the next round resistance level 110.00 (target price for the completion of the active impulse wave 3).
From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/nike-wave-analysis-20-august-2020-20200820/
Selected by fonecable.com
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