France: Continental shares resume the negative attack – Analysis – 16-8-2018

Continental shares price was affected by the strength of 188.30 resistance recently, to be forced to form new negative trades that reinforce the continuation of the previously suggested negativity, while the price consolidates around 182.03 level to achieve the first negative targets, expecting to continue the negative pressures to move towards 38.2% Fibonacci correction level at 173.50.

Stochastic decline and approaching 20 level reinforces the negative overview by providing new negative momentum to increase the chances of forming additional negative trades until touching the previously mentioned targets.

Expected trading range for today is between 187.20 and 175.90

Expected trend for today: Bearish