CAC 40 IndexUpdated bearish view confirmed
in this timeframe, a small head & shoulders has appeared & confirm that price could make a beautiful bearish movement untill my previous target. that's possible price make a wide pullback on the neckline, near of my "energy point", but i don't think so. according to the momentum indicators and the two "long term moving average", i think that the pullbakc is soon ended. head projection put the price at the Andrew's pitchfork median line level (median line is touched in 80% of case). but, we should take care of the 50% & the 61.8µ fibonacci retracement of previous wave.
note : that's only a technical analysis, i've not watched the economic news of the next hours & days
note : that's only a technical analysis, i've not watched the economic news of the next hours & days
Note
oups.....i forgot to say that there's an obvious support at 4660, & that price is actually testing it
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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.