Bank of America ST : look for a drop towards 48.48 before a bounce

Our pivot point is at 48.48.

Our preference: look for a drop towards 48.48 before a bounce

Alternative scenario: below 48.48, expect 46.55 and 45.41.

Comment: the RSI is above its neutrality area at 50. The MACD is below its signal line and negative. The penetration of 50 on the RSI should trigger further losses. Moreover, the price is below its 20 period moving average (50.90) but above its 50 period moving average (49.90).

Supports and resistances:

58.82 **

57.60 *

56.39 **

55.18

50.44 USD - last

49.24

48.48 **