CAC 40 - 240 - Making a moveTrade Alert
This is a short-term idea.
Given that CAC 40 finally moved above the 4900 barrier and also above the 200 EMA, this may continue pushing a bit higher. For now, we will see this as short-term idea, where we will target the downside resistance line, which is running from the high of the 17th of October last year. We will also keep a tight stop-loss, in case this reverses heavily against us. That said, let's not forget that the index still remains above its short-term upside support line, drawn from the low of December 2018.
Please see the chart for details.
Don't forget your stop-loss.