American Express: ⬆️ Buy
– American Express reversed from support area
– Likely to rise to resistance level 370.00
American Express recently reversed from support area between the key support level 340.00 (former resistance from September), lower daily Bollinger Band, 38.2% Fibonacci correction of the upward impulse 1 from August and the support channel from July.
The upward reversal from this support area started the active impulse wave v of the impulse waves 3 and (5).
Given the prevailing daily uptrend, American Express can be expected to rise further to the next resistance level 370.00 (which stopped the previous impulse wave iii).
Source: Fxpro