💎 MTL's current market status has been a point of focus, especially as it confronts the resistance trendline of the Falling Wedge pattern. MTL needs to achieve a breakout from this pattern to pursue an upward trajectory.
💎 A successful breakout would likely lead to substantial upward momentum, given that the Falling Wedge is recognized as a bullish pattern, probability steering MTL towards our identified strong resistance area.
💎 However, should MTL face a rejection upon attempting to break out of the resistance, it might revert to the demand area at 1.52, to regather momentum for another breakout attempt.
💎 If MTL returns to the 1.52 demand area but fails to exhibit a strong response, merely consolidating at that level, there's a possibility of breaking below this demand area, potentially moving towards the next demand zone around 1.4.
💎 This 1.4 demand zone is pivotal, historically serving as a strong support level for MTL, typically leading to a recovery in its trajectory. Nonetheless, if MTL is unable to maintain this zone, it could signal a shift to a bearish trend, with further declines possibly in store.
💎 A successful breakout would likely lead to substantial upward momentum, given that the Falling Wedge is recognized as a bullish pattern, probability steering MTL towards our identified strong resistance area.
💎 However, should MTL face a rejection upon attempting to break out of the resistance, it might revert to the demand area at 1.52, to regather momentum for another breakout attempt.
💎 If MTL returns to the 1.52 demand area but fails to exhibit a strong response, merely consolidating at that level, there's a possibility of breaking below this demand area, potentially moving towards the next demand zone around 1.4.
💎 This 1.4 demand zone is pivotal, historically serving as a strong support level for MTL, typically leading to a recovery in its trajectory. Nonetheless, if MTL is unable to maintain this zone, it could signal a shift to a bearish trend, with further declines possibly in store.
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