Germany –BMW hits the support- 19-8-2019

BMW ended its negative attack by hitting the bearish channel’s support that is located at 58.00 level, to form a strong barrier against resuming the negative attack, to notice the beginning of forming a bullish correctional rebound, to reinforce its fluctuation within the bearish channel levels, and there is chances for the price rally to target new positive levels that might begin at 62.00 and 64.50.

Stochastic exit from the oversold level supports surpassing the negative pressures, to increase the chances for gathering a new positive momentum, to begin achieving the suggested correctional targets.

The expected trading range for today is between 58.40 and 62.00

The expected trend for today: Bullish