The $193.16 is a strong resistance area, as it is the Fibonacci 78.6% from August 2015 LOW to August 2019 HIGH.
If SPY remains strong today it will definitely will help MCD keep on trying to break upwards.
7-Day RSI is at 19, being oversold.
MACD curling up.
Both are lagging indicators, and have not confirmed any trend yet.
But, if we combine the 1-Day chart analysis with the 1-hour chart (and a shorter Fibonacci Retracement period), we can see that if we break over 193.16 area, we will see 198 as the next resistance.
If SPY remains strong today it will definitely will help MCD keep on trying to break upwards.
7-Day RSI is at 19, being oversold.
MACD curling up.
Both are lagging indicators, and have not confirmed any trend yet.
But, if we combine the 1-Day chart analysis with the 1-hour chart (and a shorter Fibonacci Retracement period), we can see that if we break over 193.16 area, we will see 198 as the next resistance.
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