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CAC40 Daily Technical Analysis | 8 January 2018

2018-01-08 11:56 am | Resource: Technical Analysis Section | No Views : 311

We mentioned earlier that CAC40 broke through the 60-minute downtrend line during last week's trading. Last Thursday, the index crossed the upper border of the symmetrical triangle, which led to the continuation of the France index so far.

CAC40 Daily Technical Analysis | 8 January 2018

The index is trading in a bullish trend in the configuration and the SMA 20 is trading in a bullish direction and constitutes a support area for the pair.
Rate of change 12 Break the trend line during the last Friday trading and currently the index is trading in a downward trend in the configuration.
It is expected that, if the French index is still above the upper limit of the symmetrical triangle, it may target the 5580 level while in the case of a break, the 5445 level might target the 5410 level.
Support: 5450 - 5384 - 5296
Resistance: 5484 - 5580 - 5646
Trend: Up


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