MDB: on the way to next resistance zone at: 550-640
Updated
MDB price follows an impulsive structure from its Nov22 lows nicely.
Until price holds its Oct's lows, my main interpretation of the price structure suggests move to next macro-resistance zone: 550-640 in 2024.
Suggested price structure needs to be revised if price breaks down bellow 288 and above 640.
Until price holds its Oct's lows, my main interpretation of the price structure suggests move to next macro-resistance zone: 550-640 in 2024.
Suggested price structure needs to be revised if price breaks down bellow 288 and above 640.
Note
Price is still holding its upside potential as per main interpretation suggested previously. The next upside wave could be considered as a potential ending diagonal, where wave 4 could retest the break-out territory of wave 1.
Until price holds its January lows this upside potential is intact. Breaking bellow it and suggested price structure needs to be revised.
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.