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CAC40 Daily Technical Analysis | 29 January 2018

2018-01-29 10:06 am | Resource: Technical Analysis Section | No Views : 288

CAC40 broke the secondary downtrend line on the 60-minute time frame during last Friday's trading as a result of bull pressure on the 40 index. The index also broke through the 5526 area, confirming this breach

CAC40 Daily Technical Analysis | 29 January 2018

The France main index is trading in a bullish trend under formation, and the SMA 20 is positively intersecting with the breached downward trend line supporting bulls.
The rate of change 12 failed to breach the bearish trend line during Friday trading and is currently trading in a bullish trend in the formation.
It is expected that, if confirmed the breach of the French index levels of 5540 may target the level of 5580 on the other side in case, breaking the level of 5522 may target the French 5411.
Support: 5484 - 5450 - 5384
Resistance: 5580 - 5646 - 5700
Trend: Up


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