Visa Daily Technical Analysis | 26 October 2017
2017-10-26 09:41 am | Resource: Technical Analysis Section | No Views : 328
We noted earlier that there is a negative harmonic pattern (ab = cd) on the American stock. The pattern achieved its completion point during yesterday's trading and started to fall but not in the correct way to open a trading center without confirmation.
Momentum of the MACD is positively intersecting again, but this time the Histogram chart indicates a negative technical divergence between the index and the stock.
It is expected that if a negative price behavior at 110.52 might target the level of 107.43 to 105.69, on the other hand, a breach of 110.52 might target 111.83.
Support: 106.70- 104.89- 102.94
Resistance: 110.38 - 111.83 - 113.09
US stock markets began the last trading session of the week slightly higher after the media reported that Washington is ready to grant temporary tariff exemptions to 437 Chinese products. At the same time, another report claimed that the United States would not remove import tariffs on auto parts made in Japan as part of the expected trade agreement. In business news, Apple launched. The new iPhone 11 series worldwide.…
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