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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: $84.66 - High Oct 26 and the bull trigger
  • RES 3: $81.88 - High Nov 24
  • RES 2: $78.54 - 50-day EMA
  • RES 1: $74.35/76.82 - High Nov 30 / Low Nov 22
  • PRICE: 71.34 @ 07:04 GMT Dec 1
  • SUP 1: $67.45 - Low Nov 30
  • SUP 2: $66.67 - Aug 24 low
  • SUP 3: $62.95 - Low Aug 23 and a key support
  • SUP 4: $62.54 - Low May 21

Brent futures remain vulnerable and yesterday resumed their downtrend. The contract on Friday, cleared former support at $76.82, Nov 22 low to strengthen the current bearish condition and yesterday’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 $66.67 next, the Aug 24 low. Initial firm resistance is seen at $74.35.