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Coca-Cola Wave Analysis – 12 November, 2019

  • Coca- Cola broke support area
  • Likely to fall to 51.00

Coca-Cola under bearish pressure after the earlier breakout of the support area lying between the support level 53.00 and the 38.2% Fibonacci correction of the previous upward impulse from May.

The breakout of this support area accelerated the active short-term impulse wave C from the start of September.

Coca-Cola is expected to fall further and retest the next key support level 51.00, which reversed the price in August and July.


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