Short term view - CGG : The descending resistance has been breached.
The trend is momentarily interrupted by a consolidation on a shorter time horizon but prices remain above the invalidation level at €2.130. It can resume at anytime towards the target at €4.370.Arguments :
- Prices are pulling back to the support level (previously a resistance). The rise will resume afterwards.
- The descending resistance has been breached.
- Prices are breaking above the moving average, it is a sign of strength.
- The measuring gap, opened in the middle of the rally, reinforces the bullish trend.
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