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Bank of America Corp., Elliot Wave Analysis

11/29/2022 10:34 AM

The price is in a correction, a fall is possible.

On the daily chart, the first wave of the higher level 1 formed, and a downward correction develops as the second wave 2, within which the wave (А) of 2 ended. Now, a local correction has ended as the wave (B) of 2, and the development of the wave (C) of 2 has started. If the assumption is correct, the price of the asset will fall to the area of 26.32–20.82. In this scenario, critical stop loss level is 38.62.

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