UK: BAE Systems shares test the resistance – Analysis – 9-8-2018

BAE Systems shares price formed correctional bullish wave recently to test the key resistance at 634.60, as its stability forms strong obstacle against regaining the bullish bias, while the price move towards the moving average 55 at 628.50 confirms the preparation to resume the negative attack to expect reaching 620.00 followed by targeting 61.8% Fibonacci correction level at 606.15.

Stochastic fluctuation within the oversold areas increases the chances of gathering new negative momentum to pave the way to record the suggested additional targets.

Expected trading range for today is between 634.00 and 620.00

Expected trend for today: Bearish