Our pivot point is at 0.5551.
Our preference: the downside prevails as long as 0.5551 is resistance.
Alternative scenario: above 0.5551, look for 0.5644 and 0.5700.
Comment: the RSI is trading below 30. This could mean that either the price is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 0.5566 and 0.5629).
Supports and resistances:
0.5700 **
0.5644 *
0.5551 **
0.5514
0.5467 last
0.5345
0.5289 **
0.5234 *
0.5178 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 01-18-2024 at 22:01 UTC+1
Price reference: 0.5467 last known on 01-18-2024 at 22:01 UTC+1
Investment horizon: INTRADAY
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