France: Carrefour shares price surrenders to the moving average negativity – Analysis – 31-7-2019

Carrefour shares price ended the bullish attempts by facing the moving average 55 to form solid resistance at 17.80 and force the price to renew the negative fluctuations, thus, we will continue to suggest the domination of the bearish bias that targets 16.75 followed by reaching 15.40 in the upcoming period.

Stochastic release from the overbought areas confirms getting rid of the positive pressures and start gathering the required negative momentum to resume the main bearish attack.

The expected trading range for today is between 17.75 and 16.75

The expected trend for today: Bearish