Germany: Beiersdorf shares price turn red – Analysis – 18-10-2019

Beiersdorf shares price ended its correctional bullish rally by facing the bearish channel’s resistance at 107.00, to notice the beginning of forming strong negative trades by reaching 104.85.

We notice the stability of the moving average 55 near the main resistance, to confirm blocking the price within the negative range and confirm the preparation to resume the negative attack until reaching 104.05 and 103.05 levels.

The expected trading range for today is between 105.60 and 104.05

The expected trend for today: Bearish