Short term view - TRANSOCEAN LTD : Pulling back to the gap
The trend is still bearish, the invalidation level is above CHF 9.20. The target is at CHF 7.90.Arguments :
- Prices are pulling back to the resistance level (previously a support). The fall will resume afterwards.
- Prices are breaking below the moving average, it is a sign of weakness.
- Prices will test the quality of bearish gap. As long as it remains open, consequences will be bearish.
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