Awaiting a retrace to key support level

٢٥ يونيو ٢٠٢١

A beautiful level has been gained recently in march 2021 and moved up creating a new high. Looking back on the chart this is a key level in the for 3M during the last few years: the high in august 2016 tested it and found resistance, in the beginning of 2017 the level was gained, tested as support twice with lows in the end of 2018, lost the level again in 2019 and then tested it twice again as resistance with the high in 2019 and the also with the pre-corona high. It would make sense to test this level again as support, and make a good entry point before moving further up towards the high range of 2018-2018 around 217$

The analysis above is not financial advice by any means, it's purpose is merely providing educational value tho those who are interested in learing about technical analysis