Our pivot point is at 314.8.
Our preference: the downside prevails as long as 314.8 is resistance.
Alternative scenario: the upside breakout of 314.8, would call for 320.5 and 323.9.
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 is trading under both its 20 and 50 period moving average (respectively at 312.7 and 314.1).
Supports and resistances:
323.9 **
320.5 *
314.8 **
312.5
309.5 last
302.7
299.3 **
295.9 *
292.5 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 04-03-2023 at 08:08 UTC+1
Price reference: 309.5 last known on 04-03-2023 at 08:08 UTC+1
Investment horizon: INTRADAY
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