fbGB100 Price Bias Is Still Bearish | IFCM

GB100 Price Bias Is Still Bearish

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The GB100,H4 price forecast in our July 24, 2020 technical analysis was bearish.

  • Market data after GB100,H4 July 24, 2020 technical analysis still indicate bearish bias.
  1. GB100,H4 closed 0.9% lower on July 24, 2020.
  2. But better than expected composite PMI flash reading for July add to the upside risk for GB100.

Here is what indicators show as of July 27, 2020:

  • The Parabolic Indicator gives a bearish signal.
  • The Donchian channel indicates no trend: it is flat.
  • The MACD indicator gives a bearish signal.
  • The RSI oscillator gives a neutral signal.
  • The Fractals give a bearish signal.
  • The MA(200) Indicator gives a bearish signal.

So the bearish forecast still stands for the GB100,H4.

OrderSELL
Sell stopBelow 6096.46
Stop lossAbove 6276.56

Markit’s July 24, 2020 report

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