• Fedex reversed from support level 200.00
• Likely to rise to resistance level 210.00
Fedex earlier reversed up from the key round support level 200.00 (which stopped the previous intermediate impulse wave (C) at the start of March) – standing near the support trendline of the weekly down channel from August.
The upward reversal from the support level 200.00 stopped the previous intermediate ABC correction (2).
Given the strength of the support level 200.00 – Fedex can be expected to rise toward the next resistance level 210.00.
Source: Fxpro
