- Rolls-Royce reversed from round support level 1000.00
- Likely to rise to resistance level 1100.00
Rolls-Royce recently reversed from the support zone between the round support level 1000.00 (former resistance from July), support trendline of the daily up channel from May, lower daily Bollinger Band and the 50% Fibonacci correction of the upward impulse from July.
The upward reversal from this support zone stopped the earlier short-term ABC correction (ii).
Given the clear daily uptrend, Rolls-Royce can be expected to rise to the next resistance level 1100.00 (which stopped the earlier impulse wave i).
Alexander Kuptsikevich,
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
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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.