Our pivot point is at 280.7.
Our preference: the upside prevails as long as 280.7 is support.
Alternative scenario: below 280.7, expect 274.9 and 271.5.
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 280 and 277.3).
Supports and resistances:
303.0 **
299.5 *
296.1 **
292.6
285.7 last
283.0
280.7 **
274.9 *
271.5 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 01-12-2023 at 04:40 UTC+1
Price reference: 285.7 last known on 01-12-2023 at 04:40 UTC+1
Investment horizon: INTRADAY
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