Our pivot point stands at 2559.
Our preference: the downside prevails as long as 2559 is resistance.
Alternative scenario: above 2559, look for 2606 and 2634.
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 negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 2565 and 2616).
Supports and resistances:
2634 **
2606 *
2559 **
2541
2506 last
2450
2423 **
2395 *
2367 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 10-31-2024 at 21:51 UTC+1
Price reference: 2506 last known on 10-31-2024 at 21:51 UTC+1
Investment horizon: INTRADAY
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