STOCKS: reversal chart patterns
There was a notable reversal in the stock market on Wednesday. Have you noticed the reversal chart patterns?
NZD/CAD broke support level 0.8850
- NZD/CAD broke support level 0.8850
- Next sell target - 0.8780
NZD/CAD continues to fall after the recent breakout of the key support level 0.8850 (which stopped the price twice in July, as can be seen below). The breakout of the support level 0.8850 should accelerate the active short-term impulse wave (c)- which belongs to the ABC correction 2 from the end of June. NZD/CAD is expected to fall further toward the next ell target at the next strong support level 0.8780 (low of the previous wave (2) from May).
Dmitry Chernovolov
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