12.71 is our pivot point.
Our preference: the downside prevails as long as 12.71 is resistance.
Alternative scenario: above 12.71, look for 13.10 and 13.33.
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 13.15 and 13.11). Finally, the Chainlink / Dollar is trading below its lower Bollinger band (standing at 12.46).
Supports and resistances:
13.33 **
13.10 *
12.71 **
12.55
12.38 last
11.77
11.54 **
11.31 *
11.08 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
TRADING CENTRAL is governed by the Code of Conduct of ANACOFI-CIF, an association approved by the Autorité des Marchés Financiers and registered with ORIAS under number 17005458.
Written on 12-01-2025 at 02:09 UTC+1
Price reference: 12.38 last known on 12-01-2025 at 02:09 UTC+1
Investment horizon: INTRADAY
TRADING CENTRAL recommends reading the legal and regulatory information as well as the warnings concerning the information provided accessible from the following link : https://global.tradingcentral.com/www/pdf/terms_of_use_web_sites_en.pdf