MCD eyes on $269: MickeyDee's needs to bounce here

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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Comment:

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.

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Comment:

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

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Comment:

Bounce proceed VERY NICELY

Zoom in (m5)

Very nice reactions at all of our fibs,
means we can continue to rely on them,
and we have two clear levels of interest.

$ 224.41 likely to be retested, better hold.
$ 227.77 first resistance, hope to hit next.

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Comment:

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.


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