Our pivot point is at 122.1.
Our preference: the upside prevails as long as 122.1 is support.
Alternative scenario: the downside breakout of 122.1 would call for 118.2 and 115.8.
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 positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 118.5 and 115.1).
Supports and resistances:
137.7 **
135.3 *
133.0 **
130.6
125.2 last
123.6
122.1 **
118.2 *
115.8 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 01-30-2025 at 06:06 UTC+1
Price reference: 125.2 last known on 01-30-2025 at 06:06 UTC+1
Investment horizon: INTRADAY
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