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CAC40 Daily Technical Analysis | 5 February 2018

2018-02-05 10:06 am | Resource: Technical Analysis Section | No Views : 309

CAC40 continued to decline during last Friday's trading as a result of the break of the bullish trend line that we mentioned during last Thursday's report. The index at the end of trading on Friday broke the minor ascending trend line but without confirmation.

CAC40 Daily Technical Analysis | 5 February 2018

The France index is trading in a bearish direction in a secondary configuration and the simple moving average 20 is pointing downwards and represents a resistance zone to the index.
The rate of change 12 is trading in a bearish direction.
It is expected that, if the France index breaks 5321 levels it might target the 5269 level on the other side in case, a breach of 5366 might target the French 5465.
Support: 5296 - 5266 - 5198
Resistance: 5404-5450 - 5484
Trend: Down


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