UK- BAS keeps declining – Analysis – 6-8-2019

BAS price confirmed its affection by the bearish bias domination by providing a new negative close below the bearish channel’s resistance at 63.30, to notice reaching below the initial support at 57.36 level, which reinforces the continuation of the negativity, to wait for recording new negative targets that might begin at 53.40 reaching to 51.00 in the medium period.

The stability of the moving average 55 near the main resistance and stochastic move towards the oversold level, all that form supported factors for the negative suggestion, which increases the chances for gathering extra negative momentum in the current period.

The expected trading range for today is between 58.20 and 53.40

The expected trend for today: Bearish