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Bullish Doji Candle

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Are Growth Stocks Too Expensive?

EURGBP TECHS

Still In Consolidation Mode

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  • RES 4: $87.00 - Round number resistance
  • RES 3: $85.77 - High Oct 25 and the bull trigger
  • RES 2: $79.82/83.00 - 50-day EMA / High Nov 24
  • RES 1: $74.56/77.58 - Intraday high / Low Nov 22
  • PRICE: 71.87 @ 07:07 GMT Nov 30
  • SUP 1: $70.52 - Intraday low
  • SUP 2: $69.57 - Low Sep 9
  • SUP 3: $68.62 - 76.4% retracement of the Aug 23 - Oct 25 rally
  • SUP 4: $67.15 - Low Aug 24

Brent futures remain vulnerable and have this morning resumed their downtrend. The contract on Friday, cleared former support at $77.58, Nov 22 low to strengthen the current bearish condition and today’s weakness has reinforced this theme. The break lower also marks an extension of the bearish price sequence of lower lows and lower highs. Attention is on $69.57 next, the Sep9 low. Initial firm resistance is seen at $77.58.