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Google Wave Analysis – 22 October, 2019

  • Google reversed from resistance zone
  • Likely to fall to 1200.00

Google earlier reversed down from the resistance zone lying between the strong multi-month resistance level 1260.00 (which has been reversing the price from 2018) and the upper weekly Bollinger Band.

The downward reversal from resistance zone stopped the earlier impulse wave (3).

Given the strength of the aforementioned resistance zone and the overbought weekly Stochastic – Google is expected to fall further and retest the next support level 1200.00.

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