The CAC40 equity index remains in a bullish technical structure, underpinned by the prevailing uptrend. Recent intraday price action has shown a breakout above a sideways consolidation pattern, suggesting renewed bullish momentum towards the previous resistance area.
Key Levels:
Support: The critical support level is at 8050, which corresponds to the previous consolidation price range. A corrective pullback to this level, followed by a bullish bounce, could reinforce the uptrend.
Resistance: On the upside, the next resistance levels are positioned at 8190, 8300, and 8400, representing potential profit targets over a longer timeframe.
Bearish Scenario: A decisive break below the 8050 support level and a daily close beneath this mark would invalidate the bullish outlook. Such a move could initiate a deeper retracement, targeting the 7900 support level, followed by 7800 if selling pressure intensifies.
Conclusion: The prevailing sentiment remains bullish as long as the 8050 support holds. Traders should monitor any corrective moves toward this level for potential buying opportunities. A confirmed loss of 8050 would signal caution, as it may trigger further downside pressure.
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 Levels:
Support: The critical support level is at 8050, which corresponds to the previous consolidation price range. A corrective pullback to this level, followed by a bullish bounce, could reinforce the uptrend.
Resistance: On the upside, the next resistance levels are positioned at 8190, 8300, and 8400, representing potential profit targets over a longer timeframe.
Bearish Scenario: A decisive break below the 8050 support level and a daily close beneath this mark would invalidate the bullish outlook. Such a move could initiate a deeper retracement, targeting the 7900 support level, followed by 7800 if selling pressure intensifies.
Conclusion: The prevailing sentiment remains bullish as long as the 8050 support holds. Traders should monitor any corrective moves toward this level for potential buying opportunities. A confirmed loss of 8050 would signal caution, as it may trigger further downside pressure.
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.
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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.