MCDONALDS (MCD) On Key Level! Two Scenarios!

29 apr 2020

Mcdonalds is approaching a key daily resistance level.

on 4h is coiling in a rising wedge pattern and clearly, the market participants are waiting for some trigger.
earnings I suppose!
for now, the price action is weak and we should be prepared for both scenarios.

in case of a bullish violation of the key level, we will see a bullish continuation to 206/217 levels

in case of a bearish breakout of the wedge, we may expect a drop to 170/156!

be prepared for both scenarios and follow the market!
good luck!