Cincinnati Financial Corporation (CINF.US) - Our Expectations: Rising trend, a correction to main diagonal line. Possibility for long positions with stop loss of 101.00
Alternative scenario: A price return below the diagonal support and decrease below the main trendline will strengthen the control of the sellers, which will also be reflected in a deeper correction and possible test of the 50% Fibonacci zone around 94.50.
Comment: Rising main movement. Correction to diagonal and horizontal support. 200 MA lies at these levels, which makes the area even more significant. Break of an internal downward channel signaling the end of the corrective movement, which brought the price closer to 38.2% Fibonacci. Divergence between DeMarker and Price - signaling the end of the short-term trend.
Stop Loss: 101.00
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25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
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