Short term view - VALEO : A triangle is forming
The trend is still bearish, the invalidation level is above €56.00. The target is at €50.20.Arguments :
- Prices are pulling back to the resistance level (previously a support). The fall will resume afterwards.
- The moving average is capping prices.
- Prices are within a triangle, but the trend will eventually resume to the downside.
- The bearish gap has been tested, the fall resumes.
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