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| Technical Outlook for Facebook 8-7-2015 |
Facebook share moved yesterday in the average movement of 224 pips, its highest level at 87.45 and the lowest Level at 85.17 and closed at 87.15 to Lose 17 pips during yesterday’s Trading.
Facebook is moving in a series of down corrective waves above 23.6% fibo retracement and faced a critical support area last week
Facebook share achieved our target yesterday at 86.10
It is expected that Facebook share is heading targeting 86.00 as the target on time frame of four hours to make a little of correction and till now we see the Bulls control on market direction
And the Relative Strength Indicator "RSI" show us starting of accumulation operations at the market
Today we could see violent swing in equity markets because of the economic data from USA
Support levels: 85.73 and 84.31 and 83.45
Resistance levels: 88.01 and 88.87 and 90.29
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