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CAC40 Daily Technical Analysis | 4 January 2018

2018-01-04 11:34 am | Resource: Technical Analysis Section | No Views : 313

In a previous report we pointed to the break of the France index CAC 40 of the lower leg of the classic symmetrical triangle pattern. During yesterday's trading, the index broke these levels and broke through the 5296 area and towards the end of yesterday trading, the indicator broke the bearish trend line on the hourly interval.

CAC40 Daily Technical Analysis | 4 January 2018

The index is trading in a bullish direction and the simple moving average 20 moves from a negative position to a position where it becomes a support area for the French index.
The rate of change 12 is trading in a bullish direction as a result of the breach of the bearish trend line during yesterday's trading.
It is expected that, if the French index breaks 5384 levels, it may target the 5450 level while in the case of a break, the level of 5348 might target the 5067 level.
Support: 5296 - 5266 - 5198
Resistance: 5384- 5450-5484
Trend: Up


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