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McDonalds Daily Technical Analysis | 6 November 2017

2017-11-06 09:18 am | Resource: Technical Analysis Section | No Views : 407

McDonalds broke through the resistance level of 167.67 during the thursday and confirmed that during the trading last Friday, is still trading fast food shares in a bullish direction in the configuration on the hour-time frame, and bulls could penetrate the secondary downward trend line during last Friday's trading.

McDonalds Daily Technical Analysis | 6 November 2017

The positive cross between the SMA and the slow moving SMA is still in place.
The rate of change 12 is trading in a bullish direction and still fails to breach the important 2.25 resistance level.
It is expected that if the fast-food shares break above $ 169.42, it might target the 172.10 level on the other side, if the break of 167.67 might target the 165 level.
Support: 167.67 161.72 - 156.97
Resistance: 170.14 - 172.10 - 176.03
Trend: Up


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