CAC 40Cocoa now trades casually, aggressively and also could not break us the strong demand zone that is considered strong support and is now considered a target and if it is broken, it will create that God willing
Cac40trading
FRANCE CAC40 Retest The Previous Toplooking for cac40 index to retest pre covid-19 levels before going into new bear market.
CAC40 Short Entry on Divergence 13:45:39 (UTC) Wed May 13, 2020As of the open today, the French stock market is down 32 percent from February. There's a broad based stock market crash going on, with financials down 42% year to date. For this, I will be shorting from these regions, and using the futures index as it's proxy.
13:51:33 (UTC)
Wed May 13, 2020
CAC 40 Index - heading towards 2012 lowEurope Markets entering strong bearish momentum.
France is at the beginning of the COVID-19 Pandemic, number of infected people expect to grow exponentially in the upcoming weeks.
France, Spain, Germany following Italy's state of emergency.
We expect now a lower low of the CAC 40 Index.
At the correction move to 4600, we can start shorting the Index with the price target of 2012's low at 2800.
Europe will enter in recession if serious state economic measures are not taken.
"Two of the EU's biggest states, France and Spain, have followed Italy in announcing emergency restrictions to combat the spread of coronavirus. France, a country of 63.5 million, ordered the closure of all non-essential places used by the public from midnight (23:00 GMT)." 15 March - bbc.com
Let me know your view in the comments down below!
Channel broken a bit early, but could indicate bear marketMy call on CAC40 is changed from long to neutral now that global markets are increasing their fear on a global slowdown. This is evident in markets around the world as Asian markets plunged today as did European. US is set to be down as well. Overall, the channel break is incredibly disheartening for those expecting higher gains as it was a huge move down (3 percent). If you were not in this trade closer to the bottom, you may have missed your chance. If you didn't sell before this dip then you may have made some money. For those shorter-term traders, you may have already missed the train. We could get back in this channel tomorrow, but that seems unlikely. I'm actually more neutral to short than neutral, but Trading View only gives us three options so I prefer not a drastic shift from long to short. Let's see what happens over the next few days.
What is the next target of #CAC 40 ?The trend of the CAC 40 in recent years is an uptrend.
in October 2011 the Cac has undergone a technical correction of 1200 points and then very quickly he returned to his upward trend, in October 2015 after a long rise the Cac has made technical correction of 1000 points pretty much like the first time and quickly took it back bullish trend, in October 2017 the Cac has made a technical correction of 800 points and at the moment it is in progress and normally should be redone as the last two completed times a rise is exceeded the last record price.
The Cac will seek a goal to reach and the point of the Double Top (6100) in 14% of the current price is probably possible
Buy Cac 40:
Entry Price: 5290
Take Profit: 6100
Stop Loss:5000
