The CAC40 continues to exhibit bearish sentiment, aligning with the prevailing downward trend. Recent price action suggests that the index experienced an oversold rally, which was subsequently rejected near a key resistance zone — the previous intraday consolidation level around 7454.
This area now serves as a critical pivot point. A failure to break above 7454, followed by renewed selling pressure, would likely confirm a bearish reversal, with downside targets at:
7170 – Near-term support
7000 – Medium-term support
6828 – Long-term support level
However, if price breaks and closes firmly above 7454 on a daily basis, the bearish scenario would be invalidated. In that case, the DAX40 could extend gains toward:
7592 – Immediate resistance
7754 – Major upside target
Conclusion
The bias remains bearish below 7454, with rallies into that level offering potential short opportunities. A daily close above 7454, however, would shift sentiment and open the door for bullish continuation toward higher resistance levels.
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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.