Our pivot point stands at 80.42.
Our preference:
technical rebound towards 80.42 before a new drop.
Alternative scenario:
the upside breakout of 80.42, would call for 80.73 and 80.91.
Comment:
the RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above its 20 period moving average (80.15) but under its 50 period moving average (80.20).
Our preference:
technical rebound towards 80.42 before a new drop.
Alternative scenario:
the upside breakout of 80.42, would call for 80.73 and 80.91.
Comment:
the RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above its 20 period moving average (80.15) but under its 50 period moving average (80.20).