Our pivot point stands at 0.4021.
Our preference: the downside prevails as long as 0.4021 is resistance.
Alternative scenario: the upside breakout of 0.4021, would call for 0.4144 and 0.4217.
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 is trading under both its 20 and 50 period moving average (respectively at 0.3995 and 0.4008).
Supports and resistances:
0.4217 **
0.4144 *
0.4021 **
0.3973
0.3890 last
0.3745
0.3672 **
0.3600 *
0.3527 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 06-03-2022 at 16:00 UTC+1
Price reference: 0.3890 last known on 06-03-2022 at 16:00 UTC+1
Investment horizon: INTRADAY
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