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MasterCard Inc., Elliot Wave Analysis

1/4/2023 10:10 AM

The price is in correction; the probability of the fall is maintained.

On the daily chart, the third wave of the higher level (3) has formed, the downward correction has ended as the fourth wave (4) and the fifth wave (5) is developing. At the moment, the first entry wave of the lower level i of 1 of (5) has appeared and a local correction is developing as the second wave ii of 1 of (5), in which wave (a) of ii has formed. If the assumption is correct, the price will drop to the area of 322.72–311.40. The level of 369.38 is critical and stop-loss for this scenario.

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