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Philip Morris Wave Analysis – 18 February, 2019

  • Philip Morris reversed from resistance area
  • Likely to fall to 86.00

Philip Morris recently reversed down from the resistance area lying between the long-term resistance 90.00 (former multi-month high from July of 2019) and the upper daily Bollinger Band.

The downward reversal from this resistance area stopped the earlier extended upward ABC correction ② from the end of August.

Philip Morris is likely to fall further toward the next support level 86.00 (former resistance from August and December).

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