Alibaba Daily Technical Analysis | 5 December 2017
2017-12-05 10:58 am | Resource: Technical Analysis Section | No Views : 281
Currently, the pair is trading in a bearish direction as a result of the break of the bullish trend line as well as the formation of lower tops, the moving average and the slow moving average are negatively intersected and the intersection was confirmed with a break of 186.45 $.
The rate of change 12 is trading in a minor upside direction while the main direction is bearish.
It is expected that if the US stock breaks $ 169.60, it might target 164.37 levels on the other side, if the breach of 173.81 might target the 180.47 level.
Support: 169.60- 164.37- 158.44
Resistance: 176.21 - 179.83 - 191.66
Shares on Wall Street began the first trading session of the week low after an attack on two facilities of Saudi Aramco, cutting the oil giant's production in half. The United States accuses Iran of being behind the attack, while Tehran has denied the allegations. It is reported that the incident will delay the initial public offering of Aramco. At the same time, more than 49,000 GM workers began a…
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