Our preference: the upside prevails as long as 4.9 is support.
Our pivot point is at 4.9.
Our preference: the upside prevails as long as 4.9 is support.
Alternative scenario: the downside breakout of 4.9 would call for 4.7 and 4.6.
Comment: the RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 4.9 and 5).
Supports and resistances:
5.5 **
5.4 *
5.3 **
5.2
5.0 last
4.9
4.9 **