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BMW Daily Technical Analysis | 13 December 2017

2017-12-13 09:58 am | Resource: Technical Analysis Section | No Views : 327

BMW broke the bearish trend on the 4-hour interval but without confirmation yet.

BMW Daily Technical Analysis | 13 December 2017

Our neutral view of the global auto shares as a result of the lack of confirmation of the breach of the rising trend line, and the simple moving average fast cross positive with the slow moving average but without confirmation also.
The MACD is a positive cross but its bias is insignificant due to the trading of the index bars near the zero level.
It is expected that if the global stock breaks 85.94 Euros, it might target 87.87, while breaching 84.06 might target 82.89.
Support: 84.90 - 82.89 - 81.00
Resistance: 89.34 - 91.06 - 92.42
Trend: neutral


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