Breakout on the MMC chart?
MMCYesterday the price closed above resistance, making a new ATH.
What are your expectations for MMC? Please leave a comment.
This is what I see on the chart, please correct me if I am wrong.
- We have a purple square as support, because MMC opened higher there is a small gap.
- I see a Cup and Handle pattern that started on 30-12-21.
Cup (30-12-21/7-4-22) Handle (8-4-22/19-4-22)
- There is a big volume shelf around $171, this could also indicate possible support.
- Price closed above the highs of 8-12-21 & 28-12-21 & 8-4-22. This means a new ATH,
What I expect: Maybe a small rally from here, or anyway a pullback to the old resistance level ($170.00). I hope that the former resistance level becomes a new support level (Principle of Polarity), and then the price soars to new highs.
This is no financial advise.
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