3M Wave Analysis – 21 May 2025

- 3M reversed from multi-month resistance level 154.00
- Likely to fall to support level 145.00

3M recently reversed down from the multi-month resistance level 154.00 (which has been reversing the price from the end of January) intersecting with the upper daily Bollinger Band.

The downward reversal from the resistance level 154.00 formed the daily Japanese candlesticks reversal pattern Evening Star.

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 145.00.