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McDonald’s Corp., Elliot Wave Analysis

10/14/2022 10:39 AM

The price is in a correction, a fall is possible.

On the daily chart, the fifth wave of the higher level (5) develops, within which the wave 1 of (5) formed, and a downward correction forms as the second wave 2 of (5). Now, the wave of the lower level c of 2 is forming, within which the wave (iii) of c has formed, and a local correction is ending as the wave (iv) of c. If the assumption is correct, the price of the asset will fall to the area of 214.70–197.65. In this scenario, critical stop loss level is 260.49.

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