• AIG reversed from key resistance level 62.00
• Likely to fall to support level 59.00
AIG recently reversed down from the pivotal key resistance level 62.00 (former monthly high from November), strengthened with the upper daily Bollinger Band.
The downward reversal from the resistance level 62.00 stopped the previous intermediate impulse wave (3).
Given the strength of the resistance level 62.00 and the overbought daily Stochastic – AIG can be expected to fall further toward the next support level 59.00.