Our pivot point stands at 528.0.
Our preference: look for a drop towards 528 before a bounce.
Alternative scenario: the downside breakout of 528 would call for 516.8 and 510.
Comment: the RSI is above 50. The MACD is below its signal line and negative. The penetration of 50 on the RSI should trigger further losses. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 536.6 and 535).
Supports and resistances:
571.3 **
564.5 *
557.8 **
551.1
537.1 last
532.5
528.0 **
516.8 *
510.0 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 08-19-2024 at 06:04 UTC+1
Price reference: 537.1 last known on 08-19-2024 at 06:04 UTC+1
Investment horizon: INTRADAY
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