Conclusion: Merrill Lynch and Co. (IPB) was trading in a strong bullish wave, which is becoming weaker . Technical indicators and chart patterns show bearish direction, recommend hedging long positions or entering short position or bearish spread options strategy . Resistance Levels: 20.00, 20.05, 20.11, 20.14, 20.20, 20.27, 20.49, 20.50, 20.50, 20.69, 20.75, 21.40, 21.92, 21.93, 21.94, 21.97. Support Levels: 19.87, 19.68, 19.49, 18.86, 18.41,.