– MasterCard reversed from support zone
– Likely to rise to resistance level 580,00
MasterCard recently reversed from the support zone between the support level 560.00 (former resistance from February), 20-day moving average and the 38.2% Fibonacci correction of the upward impulse 3 from July.
The upward reversal from this support zone started the b-wave of the active short-term ABC correction 4.
Given the strong daily downtrend, MasterCard can be expected to rise further to the next resistance level 580,00 – which has been reversing the price from December.
– Likely to rise to resistance level 580,00
MasterCard recently reversed from the support zone between the support level 560.00 (former resistance from February), 20-day moving average and the 38.2% Fibonacci correction of the upward impulse 3 from July.
The upward reversal from this support zone started the b-wave of the active short-term ABC correction 4.
Given the strong daily downtrend, MasterCard can be expected to rise further to the next resistance level 580,00 – which has been reversing the price from December.
By the FxPro Analyst Team
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By the FxPro Analyst Team
Follow our dedicated Telegram channel t.me/fxpro for insightful market analysis and expert commentary.
Reach out to media.comments@fxpro.com for PR and media inquiries
Follow our dedicated Telegram channel t.me/fxpro for insightful market analysis and expert commentary.
Reach out to media.comments@fxpro.com for PR and media inquiries
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.