Our pivot point stands at 58350.
Our preference: the upside prevails as long as 58350 is support.
Alternative scenario: below 58350, expect 57410 and 56840.
Comment: the RSI is trading above 70. This could mean that either the price is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 57540 and 57157).
Supports and resistances:
62020 **
61460 *
60890 **
60320
59190 last
58730
58350 **
57410 *
56840 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 02-28-2024 at 10:54 UTC+1
Price reference: 59190 last known on 02-28-2024 at 10:54 UTC+1
Investment horizon: INTRADAY
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