Our pivot point is at 19970.
Our preference: the downside prevails as long as 19970 is resistance.
Alternative scenario: the upside breakout of 19970, would call for 20550 and 20900.
Comment: the RSI is below its neutrality area at 50. 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 19897 and 19924).
Supports and resistances:
20900 **
20550 *
19970 **
19740
19427 last
18620
18280 **
17940 *
17600 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
TRADING CENTRAL is governed by the Code of Conduct of ANACOFI-CIF, an association approved by the Autorité des Marchés Financiers and registered with ORIAS under number 17005458.
Written on 07-05-2022 at 16:04 UTC+1
Price reference: 19427 last known on 07-05-2022 at 16:04 UTC+1
Investment horizon: INTRADAY
TRADING CENTRAL recommends reading the legal and regulatory information as well as the warnings concerning the information provided accessible from the following link : https://global.tradingcentral.com/www/pdf/terms_of_use_web_sites_en.pdf