Germany: Henkel still negative – Analysis – 12-12-2018

Henkel shares price ended its positive rebound by providing new negative close below the bearish channel’s resistance at 95.00 level, to confirm its affection by the main bearish bias domination the price needs a new negative momentum that allows it to press on the obstacle at 84.05, and breaking it will confirm its readiness to record extra negative targets in the near and medium period by reaching 81.10 and 78.25.

The stability of the moving average 55 near the bearish channel’s resistance confirms the price confinement within the negative range, besides stochastic surpass to the overbought level, which confirms surpassing the positive pressures and increase the chances for gaining the required negative momentum.

Expected trading range for today is between 91.60 and 84.05

Expected trend for today: Bearish