MC.FR Daily Chart Our Expectations: Rising Trend. The price goes into broad consolidation. We are waiting for a decline to the bottom of the range and go long with stop 270.
Alternative scenario: If the price breaks under diagonal and horizontal support, the adjustment may be deeper, which will spoil this scenario.
Comment: Upward trend, The price is in broad consolidation. We are waiting for a downward trend to the bottom of the consolidation where structural horizontal support is available, as well as a diagonal trendline. At these levels is also 38.2% Fibonacci of the upward movement, as well as 200 MA, which makes them even more significant. After touching the support, we wait for a confirmation from the Price action signal and position the line.
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