CCL.L closes lower for the 2nd day in a row
Moving lower for the 2nd day in a row, CCL.L ended Monday at 4468.00 edging lower £2.00 (-0.04%). Today's closing price of 4468.00 marks the lowest close since April 21, 2017. Trading up to £25.00 lower after the open, the market managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Monday's trading range was £39.00 (0.88%), that's far below last trading month's daily average range of £83.40. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being slightly above average.
Prices are trading close to a key support level at 4427.00. Prices are trading close to the key resistance level at 4520.00.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
Selling might accelerate should prices move below the nearby swing low at 4427.00 where further sell stops could get activated.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.
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|Close to R1 Resistance||TQ Pro Members Only|
|Close to S1 Support||TQ Pro Members Only|
|2 Consecutive Lower Closes||TQ Pro Members Only|
|Bullish Intraday Reversal||TQ Pro Members Only|
|Close to Swing Low||TQ Pro Members Only|
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