Categories: Technical analysis

McDonald’s Wave Analysis 28 May 2024

– McDonald’s under strong bearish pressure

– Likely to fall to support level 250.00

McDonald’s Corp under the strong bearish pressure after the price broke the key support level 261.40, which stopped the previous minor impulse wave i at the end of April.

The breakout of the support level 261.40 accelerated the active impulse wave c of the minor ABC correction 2 from January.

McDonald’s can be expected to fall further to the next support level 250.00, target price for the competition of the active impulse wave c.

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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Tags: McDonalds

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