- Merck broke strong support level 81.30
- Likely to fall to support level 75.00
Merck is under bearish pressure after breaking the strong support level 81.30 (the former monthly low from February, which stopped the earlier impulse wave 1).
The breakout of the support level 81.30 should accelerate the active downward impulse wave v, which belongs to wave 2 of the higher order impulse wave (3) from December.
Given the overriding daily downtrend, Merck can be expected to fall to the next support level 75.00, the target price for the completion of the active impulse wave v, coinciding with the daily down channel from December.
- Likely to fall to support level 75.00
Merck is under bearish pressure after breaking the strong support level 81.30 (the former monthly low from February, which stopped the earlier impulse wave 1).
The breakout of the support level 81.30 should accelerate the active downward impulse wave v, which belongs to wave 2 of the higher order impulse wave (3) from December.
Given the overriding daily downtrend, Merck can be expected to fall to the next support level 75.00, the target price for the completion of the active impulse wave v, coinciding with the daily down channel from December.
Alexander Kuptsikevich,
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.
Alexander Kuptsikevich,
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.