Our pivot point stands at 61530.
Our preference: target 58330.
Alternative scenario: the upside breakout of 61530, would call for 62750 and 63470.
Comment: the RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (60980) but above its 50 period moving average (60128).
Supports and resistances:
63470 **
62750 *
61530 **
61060
60498 last
59050
58330 **
57610 *
56880 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 08-22-2024 at 06:04 UTC+1
Price reference: 60498 last known on 08-22-2024 at 06:04 UTC+1
Investment horizon: INTRADAY
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