MET looks interesting considering the movement it has made over the past few weeks.
It looks like there is still room for another push.
On higher time frames, MET has finished its wave 3, and I believe wave 4 is currently developing.
To see where wave 4 might end, we're going to take a look at the lower time frames.
The chart above shows the 1-hour time frame for MET. It shows clear signs that an inner 5-wave movement has finished and a correction is underway.
The exact correction structure is currently unknown due to the lack of data so far.
I believe this larger wave 4 will likely find support around this small demand zone (green box), regardless of the pattern it forms in the coming days.
That green zone looks like the sweet spot where MET could attempt its next push for wave 5.
Thanks for reading.
It looks like there is still room for another push.
On higher time frames, MET has finished its wave 3, and I believe wave 4 is currently developing.
To see where wave 4 might end, we're going to take a look at the lower time frames.
The chart above shows the 1-hour time frame for MET. It shows clear signs that an inner 5-wave movement has finished and a correction is underway.
The exact correction structure is currently unknown due to the lack of data so far.
I believe this larger wave 4 will likely find support around this small demand zone (green box), regardless of the pattern it forms in the coming days.
That green zone looks like the sweet spot where MET could attempt its next push for wave 5.
Thanks for reading.
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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.