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Above 1285.53 USD the major trend remains bullish. 1363.45 USD and 1376.43 USD are in the line of sight. The breaking of 1285.53 USD would cancel this anticipation and favor a correction toward 1272.55 USD.
Opinion Short Term
- Resistance 1 £1,363.45
- Support 1 £1,285.53
Opinion Medium Term
- Resistance 2 £1,376.43
- Support 2 £1,272.55
The MACD is positive and above its signal line. This configuration confirms the sound positioning of the cross. However, the RSI is in the overbought area and we can expect a technical correction in the short term. Also, the Stochastics are very high, which confirms the risks in the event of a violent reversal. The volumes traded are more than the average volumes over the last 10 days.
The cross is positioned to the upside. It is above its 50-day moving average. The position of the 20-day moving average (higher than the 50-day moving average) means that this cross is reliable in the medium term. The first buy levels are on the supports situated at 1285.53 USD, then at 1272.55 USD; only the resistances, placed at 1363.45 USD, then at 1376.43 USD, could contain the prices.