Our pivot point is at 1811.
Our preference: the downside prevails as long as 1811 is resistance.
Alternative scenario: above 1811, look for 1866 and 1899.
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 1791 and 1809).
Supports and resistances:
1899 **
1866 *
1811 **
1789
1751 last
1682
1649 **
1617 *
1584 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 06-03-2022 at 15:57 UTC+1
Price reference: 1751 last known on 06-03-2022 at 15:57 UTC+1
Investment horizon: INTRADAY
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