Our pivot point stands at 63490.
Our preference: the downside prevails as long as 63490 is resistance.
Alternative scenario: above 63490, look for 65000 and 65900.
Comment: the RSI is trading below 30. This could mean that either the price is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 62890 and 63365).
Supports and resistances:
65900 **
65000 *
63490 **
62900
62204 last
60280
59390 **
58490 *
57600 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 04-29-2024 at 09:08 UTC+1
Price reference: 62204 last known on 04-29-2024 at 09:08 UTC+1
Investment horizon: INTRADAY
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