Our pivot point is at 163.35.
Our preference: the downside prevails as long as 163.35 is resistance
Alternative scenario: above 163.35, look for 164.07 and 164.50.
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 below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 163.01 and 163.34).
Supports and resistances:
164.50 **
164.07 *
163.35 **
163.07
162.66 last
161.80
161.37 **
160.95 *
160.52 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 05-05-2025 at 22:24 UTC+1
Price reference: 162.66 last known on 05-05-2025 at 22:24 UTC+1
Investment horizon: INTRADAY
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