Published On: Fri, Mar 10th, 2017

American Express Company: wave analysis

InstaForex

The lowering is expected.

The upward momentum within the third wave iii of 3 has formed. Locally the development of the downward correction as a fourth wave iv of 3, within which the wave (a) of the lower level is forming, has begun. If the assumption is correct, the price will lower to the level of 75.07. The level of 82.00 is critical for this scenario.

Trading scenario

Sell the stock from the correction below the level of 82.00 with the target at 75.07.

Alternative scenario

The breakout and the consolidation of the price above the level of 82.00 will let the price to grow to the level of 85.00.

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Forex Analysis

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