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Mastercard bounce trade

Updated: 19 Jul 2021

Mastercard hit a high of $400 in May and has since retracted back to the 50% fibonacci level of $356 before finding support.

It's been trending above the 100 day moving average and is currently sat right at that level making it a great candidate for a bounce up from here

RSI is currently rising adding weight to the bullish case

We're buying at this level and looking to take some profit around $383 with a potential move back to the previous high of $400

 

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