EN reached 23 years resistance line, with 2 ascending triangles.
Monthly 200 SMA as resistance
Monthly 20 SMA acting as Support.
Due to overall negative market conditions, uncertainty, higher yields, I don't think this is the best time for EN to break this resistance and make a move higher.
PUT option are cheap - trade open.
(Not financial advice)
Technical outlook:
EN.pa bearish scenario:
We have technical figure Pennant in French company Bouygues S.A (EN.pa) at daily chart. Bouygues S.A specialises in construction (Colas Group and Bouygues Construction), real estate development (Bouygues Immobilier), media (TF1 Group), and telecommunications (Bouygues Telecom). Bouygues is listed on Euronext Paris...
Bouygues SA (EN - France) is in WXY complex correction in 60 min time frame as shown in chart and it is now moving in y of Y wave down. X major wave was triangle, but Y wave was again subdivided in wxy wave. Invalidation level on 60 min chart must be followed to remain in count. In weekly time frame it made huge triangle in X wave, which was already broken down...
Bouygues SA (BOUY - Paris) is moving down in WXY wave pattern. X wave was in triangle, which was over. Y wave was started moving down, but wait for clear impulse down to get in to trade.
First... a little introduction about mainstream speculation, then I will talk about 50 year market cycles, and then about banking & currencies.
Coronavirus: The "best" models by "the brightest minds" predicted - taking into account lockdown & social distancing - "tens of millions of deaths".
MrRenev predicted - it's only a few months old - that this was...
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