14.06.2022 07:39 AM
Meta Platforms (formerly known as FaceBook) continue to be under downside pressure. We now have a clear five-wave decline from the 384.33 peak and the best of wave [A] is now clearly behind us. We should be looking for a low soon for a corrective rally in wave [B] towards at least 244 and possibly even closer to the 50% corrective target near 271 before renewed downside pressure in wave [B].
In the short term, a break above minor resistance at 178 will indicate that wave [A] has completed and wave [B] is developing. What's important to remember is that wave [B] only is a correction and it can take whatever possible way to 244 possible. B-waves are very hard to predict.
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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
