- Alibaba Group rising inside impulse wave (3)
- Likely to reach resistance level 123.10
Alibaba Group recently rose with a sharp upward gap, breaking the resistance level 110.00 and the resistance trendline of the daily down channel from May.
The breakout of these resistance levels accelerated the active intermediate impulse wave (3).
Alibaba Group can be expected to rise to the next resistance level 123.10 (the former monthly high and top of wave B from June).
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By the FxPro Analyst Team
Follow our dedicated Telegram channel t.me/fxpro for insightful market analysis and expert commentary.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.