Our pivot point stands at 1645.
Our preference: the downside prevails as long as 1645 is resistance.
Alternative scenario: the upside breakout of 1645, would call for 1674 and 1691.
Comment: the RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1640 and 1657).
Supports and resistances:
1691 **
1674 *
1645 **
1634
1620 last
1583
1566 **
1549 *
1532 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 02-05-2023 at 22:19 UTC+1
Price reference: 1620 last known on 02-05-2023 at 22:19 UTC+1
Investment horizon: INTRADAY
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