Our pivot point is at 63.8.
Our preference: the downside prevails as long as 63.8 is resistance.
Alternative scenario: above 63.8, look for 65.8 and 67.0.
Comment: the RSI is trading below 30. This could mean that either the price is in a lasting downtrend or just oversold and that therefore a rebound could shape (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 63.2 and 63.7).
Supports and resistances:
67.0 **
65.8 *
63.8 **
63.1
62.0 last
59.6
58.5 **
57.3 *
56.1 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 06-03-2022 at 15:58 UTC+1
Price reference: 62.0 last known on 06-03-2022 at 15:58 UTC+1
Investment horizon: INTRADAY
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