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Bank of America Corp., Elliot Wave Analysis

12/13/2022 10:14 AM

The price may fall.

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

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