ARTC Technical Overview

ARTC Technical Overview

Short term consolidation.

Both the long and the medium term have strengthened the negative picture with the latest break below 0.800. That move increased the likelihood that the 23rd of Feb – 07th May range was just a transitory phase and that the prior downtrend is now resuming. While the short term is actively testing the previous intraday resistance at 0.785, above which new Bullish positions can be activated. Failure to convincingly break above that level within the few forthcoming sessions would signal weakness and reinstate Bearish pressure to a return for a retest of the 0.700 daily support.