Our pivot point stands at 108.9.
Our preference: the upside prevails as long as 108.9 is support.
Alternative scenario: the downside breakout of 108.9 would call for 106.3 and 104.7.
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 above its 20 and 50 period moving average (respectively at 109.3 and 109.5).
Supports and resistances:
119.1 **
117.5 *
115.9 **
114.3
111.1 last
110.0
108.9 **
106.3 *
104.7 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 09-02-2025 at 08:49 UTC+1
Price reference: 111.1 last known on 09-02-2025 at 08:49 UTC+1
Investment horizon: INTRADAY
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