A gartly bat pattern is forming in MMM. We can see the it will line up with .5 fib level as well as the exterior of the downtrend channel.
Confirmation of the short will be a rejection around 209-211.
Entry position 207 after rejection.
Profit taking @ 191 and 185
Confirmation of the short will be a rejection around 209-211.
Entry position 207 after rejection.
Profit taking @ 191 and 185
Note
This is a Bearish Pattern. In the event we break the 212 I would expect us to be bulish
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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.