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MasterCard Inc., Elliot Wave Analysis

12/21/2022 10:35 AM

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

On the daily chart, the third wave of the higher level (3) formed, a downward correction ended as the fourth wave (4), and the development of the fifth wave (5) started. Now, 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), within which the wave (a) of ii has formed. If the assumption is correct, the price of the asset will fall to the area of 322.72–311.40. In this scenario, critical stop loss level is 369.38.

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