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Societe Generale

GLE.FR – D1 Our expectations:

Long with the trend. A short-term correction allows adding long positions. The price has reached a support zone and is heading north again.

Indicators:
Correction 23.6% Fibonacci.
Test of 50SMA, price above 200SMA, MAs in the bull formation.
DeMarker, tyrns above 0.3 – a signal for increase.
Sequential gives 9 for increase, which combined with a DeM turning above 0.3 is an extremely strong long signal.

SL: 29

Alternative scenario: Breakthrough 29 will probably lead to a further correction


 Trader Georgi Bozhidarov


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