• Bank of America rising inside impulse wave 5
• Likely to reach resistance level 34.00
Bank of America continues to rise inside the minor impulse wave 5, which previously started from the key support level 29.35 (former strong resistance from the start of December) – standing near the lower daily Bollinger Band and the 61.8% Fibonacci correction level of the upward impulse from November.
The active impulse wave 5 belongs to the medium-term upward impulse sequence (3) from the end of September.
Bank of America is expected to rise further toward the next resistance level 34.00 (top of the previous impulse wave 3).