Technical analysis

3M Wave Analysis 25 February, 2021

3M Wave Analysis 25 February, 2021

• 3M reversed from support area

• Likely to reach resistance 182.16

3M recently reversed up from the support area lying between the support level 173.95 (which has been reversing the price from the start of February) and the 50% Fibonacci correction of the upward impulse (i) from January.

The upward reversal from this support area stopped the previous short-term ABC correction (ii).

3M is likely to rise further toward the next resistance level 182.16 (top of the previous minor correction from the middle of February).

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