Our pivot point is at 69.75.
Our preference:
the downside prevails as long as 69.75 is resistance.
Alternative scenario:
the upside breakout of 69.75, would call for 70.04 and 70.21.
Comment:
the RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the pair is trading under both its 20 and 50 MAs (respectively at 69.56 and 69.62).
Our preference:
the downside prevails as long as 69.75 is resistance.
Alternative scenario:
the upside breakout of 69.75, would call for 70.04 and 70.21.
Comment:
the RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the pair is trading under both its 20 and 50 MAs (respectively at 69.56 and 69.62).