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Adobe Wave Analysis – 25 October, 2019

  • Adobe reversed from support zone
  • Likely to rise to 274.00

Adobe recently reversed up from support zone lying between the key support level 260.00 (multi-month low from June), lower daily Bollinger Band and the 50% Fibonacci correction of the upward impulse from last December.

The upward reversal from this support area created the daily Morning Star – which stopped the earlier waves C and (B).

Adobe is expected to rise further and retest the next resistance level 274.00 (former strong support from August and September).

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