• American Express reversed from support level 150.00
• Likely to rise to resistance level 160.00
American Express recently reversed up from the key support 150.00 (former powerful resistance level from March and April) coinciding with the38.2% Fibonacci correction of the upward impulse from March.
The upward reversal from the support 150.00 started the active short-term upward impulse wave 5.
American Express is likely to rise further toward the next resistance level 160.00 (top of the previous impulse wave 3 from the start of May).