France: Carrefour tests the resistance – Analysis – 23-10-2018

Carrefour price ended its bullish correctional rally by facing the bearish channel resistance at 17.35 level, which forces to form quick negative rebound at 16.90, the continuation of the current resistance stability supports the attempt to form new negative trading, to expect targeting 15.85 level initially, and breaking it will extend the trading to 14.55 in the upcoming period.

Stochastic reach to the oversold level signal that the price attempts to surpass the positive pressures, which increases the chances for gaining the required negative momentum to begin recording the suggested negative targets.

Expected trading range for today is between 17.35 and 15.85

Expected trend for today: Bearish