3M Wave Analysis – 27 March 2025

- 3M reversed from resistance area
- Likely to fall to support level 147.00

3M recently reversed down from the resistance area between the key resistance level 154.00 (which has been reversing the price from the end of January) and the upper daily Bollinger Band.

The downward reversal from this resistance area created the two consecutive Japanese candlesticks reversal patterns Doji – which highlights the strength of this resistance level.

Given the strength of the resistance level 154.00 and the overbought daily Stochastic, 3M can be expected to fall to the next support level 147.00 (low of the previous correction 2).