France: Allianz holds within the bullish range – Analysis – 16-10-2018

Allianz shares price ended the negative rebound by facing the bullish channel’s resistance at 180.15, to form solid barrier against changing the main trend, while the continuous stability of the current support line will keep our bullish overview that requires strong positive momentum to extend trades towards 189.60 followed by 198.00.

Any attempt to crawl below the current support will cancel the bullish overview to expect the beginning of forming strong negative trades, thus, 172.75 level will form the first negative target, while the continuous negative pressures might extend trades towards 50% Fibonacci correction level at 162.35.

Expected trading range for today is between 180.15 and 189.60

Expected trend for today: Bullish