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30/12/02
20:54
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Paris, Dec 30 (TRADING Central) --
Daily indicators are positive and have crossed above their respective declining
trend lines (MACD and RSI). They are near resistance levels. Our 354 up target
has been reached and a high at 355.70 reached. This level triggered some profit
taking, driving the contract down to the 350 area and then to 339.
Now, the contract has bounced back up to the 350 area. Above 352, look for a
retest of 354 and 355.70. Below 347, expect a drop to 345 (strong intermediate
support).
Trend : ST rise ; MT upside
Pivot: 339
Preference: continuation of the rise.
Alternative scenario: below 339 expect a drop to 335.23 and 330.
Key levels to watch:
380.00 ** horizontal resistance
378.50 ** 76.4% retracement of the Feb 1996 - Aug 1999 down move
366.00 horizontal resistance
360.00 horizontal resistance
356.10 * upper daily Bollinger band
355.70 contract high
354.00 ** 61.8% retracement of the Feb 1996 - Aug 1999 down move
352.00 ** horizontal resistance
349.30 last
345.00 ** intraday support
343.42 upper weekly Bollinger band
340.76 38.2% retracement of the Dec 02 - Dec 19 up move
339.00 ** December 20 low
336.15 50% retracement of the Dec 02 - Dec 19 up move
336.00 horizontal support
335.23 ** 20 day MA
335.00 ** 50% retracement of the Feb 1996 - Aug 1999 down move
333.00 intraday support
331.50 61.8% retracement of the Dec 02 - Dec 19 up move
330.00 horizontal support
328.00 horizontal support
323.00 intraday support
325.13 50 day MA
314.36 lower daily Bollinger band