- Adobe broke support zone
- Likely to fall to support level 364.90
Adobe recently broke through the support zone located between the support level 392.85 (which stopped wave A at the end of May) and the 61.8% Fibonacci correction of the upward impulse (1) from April.
The breakout of this support zone continues the active impulse wave C of the intermediate ABC correction (2) from last month.
Given the clear daily downtrend, Adobe can be expected to fall to the next support level at 364.90 (target for the completion of the active impulse wave C).
- Likely to fall to support level 364.90
Adobe recently broke through the support zone located between the support level 392.85 (which stopped wave A at the end of May) and the 61.8% Fibonacci correction of the upward impulse (1) from April.
The breakout of this support zone continues the active impulse wave C of the intermediate ABC correction (2) from last month.
Given the clear daily downtrend, Adobe can be expected to fall to the next support level at 364.90 (target for the completion of the active impulse wave C).
Alexander Kuptsikevich,
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
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.
Alexander Kuptsikevich,
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
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.