From a technical point of view, Peugeot may post a rebound as prices escaped from an ascending triangle pattern by pushing above the threshold at 15.7E. The daily Relative Strength Index (RSI, 14) has broken above a declining trend line and is not overbought. Bollinger bands are widening. This could indicate that a short term recovery is on the way. Readers may want to consider the potential for opening Long positions above the threshold at 13.8E with 18.5E and 19.7E as targets. Alternatively, a push below 13.8E would invalidate the bullish view and would call for a slump towards 12.25E and 10.74E.
Source: GAIN Capital, TradingView