Our pivot point stands at 93.1.
Our preference: the upside prevails as long as 93.1 is support.
Alternative scenario: below 93.1, expect 91.3 and 90.2.
Comment: the RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 91.8 and 92.7).
Supports and resistances:
100.8 **
99.8 *
98.7 **
97.6
95.1 last
93.8
93.1 **
91.3 *
90.2 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 01-31-2023 at 04:32 UTC+1
Price reference: 95.1 last known on 01-31-2023 at 04:32 UTC+1
Investment horizon: INTRADAY
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