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MasterCard Inc., Elliot Wave Analysis

12/7/2022 10:24 AM

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

On the daily chart, the third wave of the higher level (3) formed, and a downward correction ended as the fourth wave (4), within which the wave C of (4) formed. Now, the development of the fifth wave (5) has started, within which the first entry wave of the lower level i of 1 of (5) has formed, and a local correction is developing as the second wave ii of 1 of (5). If the assumption is correct, the price of the asset will fall to the area of 319.12–309.06. In this scenario, critical stop loss level is 362.15.

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