MCD has been retracing from $300. Now at a major support around 269. Strongest support above the 250 area.
$ 268.98 - 269.67 is the exact zone of interest. $ 250.05 - 251.41 is the next strong support below. $ 273.05 - 274.41 is the immediate resistance above.
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Bounce under way hopefully
Zoom in (m3) with some notes Our bounce was off a Covid Stimulus fib, in combination with a local fib reinforcement Second bounce from higher local and genesis a good sign.
Follow-up to last snapshot and PA since then Perfect Ping bounce off local 4.236 at 268.98 Then several Pings on Genesis fib at 269.67 So all of our fibs should still be dependable.
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Zoom OUT a bit (h1) Since the local bottom was on a Covid fib at 265.19 we can expect a reaction by the next one at 273.05
Follow up to last update/snapshot $277.77 was hit, and rejected with a Ping. That should have been a top on first hit, but they pulled a Bull Trap above before dip.
(also, I noticed Typos in last update, $ 2*2*7.xx instead of $ 2*7*7)
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Zoom back out (h1) Now to see if the broken resistance can be flipped to support?
Ideally we bounce off the top of zone and proceed to the next resistance around 283.