3 levels of drop have occured now time for MM to make their money back
This is based off PURE market maker method strategy and market maker behaviour, this trade looks like a short PLAY now, BUT ultimately we will have to see how the dealer handles the lows and the highs! - This is not a signal, trade at your own risk!
3M price is in a very tricky situation... On long term basis it failed its 5-year (260 weeks) uptrend test by falling below the 1st upper standard deviation from 5-year mean. It's 10-year uptrend is still intact, as price is trading above upper 1st standard deviation from 10-year (520 weeks) mean. On short term price is in downtrend on quarterly basis (below 1st...
Supply taking down MMM since 2014.12.18. Support at $159 - 158 likely to provide bounce into lo demand right shoulder. next support is in $144 area.