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CAC40 Daily Technical Analysis | 23 January 2018

2018-01-23 11:10 am | Resource: Technical Analysis Section | No Views : 284

At the end of last week, CAC40 broke through the 60-minute downtrend line and broke through the 5525 area, indicating the end of the period of consolidation and occasional trading.

CAC40 Daily Technical Analysis | 23 January 2018

Currently the CAC40 index is trading in a bullish direction under formation, and the SMA 20 is trading in a positive bullish cross direction with the bearish trend line.
The rate of change 12 is trading in a major and minor upside direction while the secondary direction is bearish and the index is trading above zero indicating the bull's superiority.
It is expected that, if the French index breaks 5555 levels, it might target 5484 while in the case of a breach of 5526 might target the French 5412.
Support: 5450 - 5384 - 5296
Resistance: 5484 - 5580 - 5646
Trend: Up

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