OCEAN (Ocean) - Update :
Key Support to watch at 0,1160(Update) Earlier in October, we highlighted 0,1160 support area as the lower part of the neutrality area. The current divergence on RSI indicator is calling for an opportunity to see a significant bullish retracement.
Today OCEAN is bouncing back from the lower part of the range and 0,1160 is acting as key tactical support to anticipate a new upside swing within the range (Blue arrow - auto-similar)
- As long as 0,1160 remains support a recovery is expected, confirmed by a break above 0,1780 in daily close to open 0,2760 and in extension 0,4040
- The long-term trend analysis show potential towards 0,57 as long as 0,0390
- Strategic support remains valid
- The mid-term element as RSI and Moving average are being challenged, the RSI divergence is a good sign for a further recovery
- The Fibonacci key level at 0,116 remains valid and acts as key support
Trade Idea : Bullish
Conviction : (Low) We will turn the conviction to medium in case of 0,1780 resistance is surpassed
- Target 2 : 0,4040 (150%)
- Target 1 : 0,2760 (75%)
- Confirmation level : 0,1770 (10%)
- Buy in setback at 0,15
- Stop: 0,1310 (-27%)
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