The Cac40 was trading near the top of the channel. Breaking out 4673.96 will lead it to 4783.38, the channel's target. Cutting through 4629.2, will send the benchmark back to a bearish market with 4501 as an objective, and 4599.92 as a primary objective. Going back to 4501 will have the opening gap, formed two days ago, as an obstacle. The daily Pivot Point is...
The Cac40 is heading to the top of the tunnel, after opening with a bullish gap yesterday. Breaking out 4673.96 will lead it to 4783.38, the tunnel's target. The previous three days can be considered as the ascending triangle's signal, which was not rejected, since the rejection level around 4501 was not breached. I has about the same objective as the current...
If this channel holds, I think we can expect 4.5-5% profit over next two days or so. Of course, the most crucial pivot for this plan lies on the market sentiment on rate hike. Any hawkish news could push the index below the channel. Good luck!
The CAC40 is still ping-ponging around in the tunnel formed by the blue resistance level and the Orange support level. Nonetheless, the triangle shaped figure made of the orange trend line and the blue resistance level, is still valid. The current pattern suggest a downward breakthrough of the triangle. Only a clear cut through 4501 would make such scenario...
The CAC40 rallied today with the US markets re-opening after a long weekend. It is still hovering in the tunnel it has formed over the past two weeks. The tunnel is located between 4673.96 and 4501. The Triangle figure is still valid since the benchmark has not broken the 4501, which is the figure's cancelling level. The Benchmark will rally to 4846.92, should...
At the very moment, DAX is facing a correction. It is still to be considered as a correction unless the index goes beyond 11408. The correction process may well go until 11600 by April 3rd. After that, ECB will continue to spread fresh money in the market, i.e 60 bio € which will by essence boost the equity market. It is a little time to take some profit from...