• Oracle rising inside impulse wave (3)
• Likely to test resistance level 63.55
Oracle recently reversed up sharply exactly from the round support level 60.00 (former resistance from the start of December) – which stopped the previous ABC correction 2.
The price earlier broke the daily down channel from December – which added to the bullish pressure on Oracle.
Oracle is expected to rise further in the active impulse wave (3) toward the next resistance level 63.55 (top of the (b)-wave of the aforementioned ABC correction 2).