Technical Outlook for Facebook 2-7-2015

Technical Outlook for Facebook 2-7-2015

Facebook share moved yesterday in the average movement of 143 pips, its highest level at 87.86 and the lowest Level at 86.43 and closed at 86.43 to lose 20 pips during yesterday’s Trading.

Facebook is moving in a series of down corrective waves around 23.6% fibo retrenchment and faced a critical support area yesterday

It is expected that Facebook share is heading targeting 84.50 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: 85.95 and 85.47 and 84.52

Resistance levels: 87.38 and 88.33 and 88.81

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