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CAC40 Daily Technical Analysis | 2 January 2018

2018-01-02 09:53 am | Resource: Technical Analysis Section | No Views : 347

The France index CAC 40 broke the lower leg of a classic symmetrical triangle pattern with the end of last Thursday's trading and with the beginning of trading last year the 40 index continued trading below the lower leg.

CAC Daily Technical Analysis | 2 January 2018

With the opening of trading today, the bear succeeded in breaking the level of 5296, currently the index is trading in a bearish direction on the hourly interval and the simple moving average 20 is trading in a bearish direction.
The rate of change 12 is trading in a bearish trend and is currently attempting to break the main ascending trend line.
It is expected that, as long as the 40 European indicator is below the Salivary Stiff, it may target the 5164 level while in the case of a breach, the 5296 level might target the 5346 level.
Support: 5296 - 5266 - 5198
Resistance: 5384- 5450-5484
Trend: Down

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