AKE.FR short trend, price action signal for possible short

AKE.FR (Arkema SA) Daily chart, down trend and short-term correction.

Correction to 61.8% FiBo levels, downward trend

The price reached a diagonal resistance

Fake breakout of resistance at 65.70

Price action: Pin Bar at levels of resistance for sell

RSI passed below 70- negative signal

4 lower peaks and lower bottoms

Alternative scenario:

If the price goes above 67.10 it will break the negative formation

SL: 67.58

Stefan D. Angelov – Head of Stocks Trading

 Varchev Traders

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