MPC Technical Outlook – Trendline Breakout in Progress

⛽ MPC Technical Outlook – Trendline Breakout in Progress

Ticker: MPC (Marathon Petroleum Corp.)
Timeframe: 30-minute candles

🔍 Current Setup
MPC had been under a descending resistance trendline since late July, but price has now broken above that trendline with strong momentum.
Descending resistance (broken): ~165–168.
Horizontal resistance: ~175 (major supply zone).
Current price: ~172.50, rallying toward that level.

This marks a bullish reversal attempt, with the next major test being the 175 resistance.

📊 Breakout Levels
🚀 Upside (Bullish Scenario)
Trigger: Break and close above 175.00.
Intermediate Targets:
180–182 → Prior resistance cluster.
186–188 → July highs.

Measured Move Target: ~190+ (trendline breakout projection).

🔻 Downside (Bearish Scenario)
Trigger: Failure at 175 and close back below 168.
Intermediate Supports:
165 → Trendline retest.
160–158 → Key demand zone.

Measured Move Target: ~155 (retracement zone).

📈 Volume Analysis
The recent breakout was supported by rising volume, signaling strong buying conviction.
Sustained high volume into the 175 test will be critical to confirm a true breakout continuation.

⚖️ Probability Bias
Bias is bullish after breaking the descending trendline.
However, 175 is the key battleground — a breakout here unlocks much higher targets.
Rejection at 175 could lead to a retest of 165–160 before another attempt higher.

✅ Takeaway
MPC has staged a bullish breakout from its downtrend:
Bullish Break > 175: Targets 180 → 186 → 190+
Bearish Rejection < 168: Targets 165 → 160 → 155

Watch closely as price approaches 175 resistance, which will define the next leg.