The CAC40 index shows a bearish sentiment, with the overall trend remaining negative. Recent price action suggests a short-term oversold rally that could face resistance near the 7705 level — a key previous consolidation area.
Key Resistance: 7705
A failure to break above this level could lead to renewed selling pressure.
Bearish Scenario:
If the price is rejected at 7705, downside targets include:
7500 (initial support)
7456
7330 (longer-term target)
Bullish Scenario:
A confirmed breakout and daily close above 7705 would invalidate the bearish outlook and open the door for a rally toward:
7830
7900
Conclusion:
The outlook remains bearish unless CAC40 can break and hold above 7705. Watch this level closely for directional clues.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
Key Resistance: 7705
A failure to break above this level could lead to renewed selling pressure.
Bearish Scenario:
If the price is rejected at 7705, downside targets include:
7500 (initial support)
7456
7330 (longer-term target)
Bullish Scenario:
A confirmed breakout and daily close above 7705 would invalidate the bearish outlook and open the door for a rally toward:
7830
7900
Conclusion:
The outlook remains bearish unless CAC40 can break and hold above 7705. Watch this level closely for directional clues.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.