3M Wave Analysis – 31 March, 2020

• 3M broke daily down channel
• Likely to rise to 140.00

3M has been rising in the last few trading sessions inside the corrective wave 4 which started earlier from support area lying between the key support level 115.00 and the lower trendline of the daily down channel from January.

The price previously broke the aforementioned down channel – which should add to the bullish pressure on this instrument

3M is likely to rise further toward the next resistance level 140.00 (top of the previous correction 4) – the breakout of which can lead to further gains toward 144.00.