Chart of the day

META reached the 523 level which could also be a fifth-wave peak of a short-term five-wave cycle and a long-term five-wave cycle. Now it is testing a breakout below the 490 level for a downside continuation to 400.

A break below 490 is now required for a deeper pullback to the 400 level which is an ultimate upside support. A confirmed break above 520 will lead to an extension higher in the fifth wave extension.

_{Look for the short trade entries with a stop loss above 505. Long trades you can take in the case of a confirmed price action break above 520.}

oa