23180 is our pivot point.
Our preference: the downside prevails as long as 23180 is resistance.
Alternative scenario: the upside breakout of 23180, would call for 23490 and 23670.
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 stands below its 20 and 50 period moving average (respectively at 23086 and 23256).
Supports and resistances:
23670 **
23490 *
23180 **
23060
22880 last
22510
22330 **
22140 *
21960 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 02-05-2023 at 22:17 UTC+1
Price reference: 22880 last known on 02-05-2023 at 22:17 UTC+1
Investment horizon: INTRADAY
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