CAC: technical analysis
12 September 2017, 10:29
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 5201.3 |
| Take Profit | 5258.0, 5266.0, 5291.0 |
| Stop Loss | 5161.0 |
| Key Levels | 5045.0, 5101.0, 5138.0, 5258.0, 5266.0, 5291.0 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 5101.0 |
| Take Profit | 5045.0 |
| Stop Loss | 5121.0 |
| Key Levels | 5045.0, 5101.0, 5138.0, 5258.0, 5266.0, 5291.0 |
CAC, D1
On the daily chart, the instrument is trading above the upper line of Bollinger Bands. The price remains above its moving averages that start turning up. The RSI is growing having broken out its strong resistance. The Composite is growing as well.
CAC, H4
On the 4-hour chart, the instrument is growing along the upper line of Bollinger Bands. The price remains above its moving averages that start turning up. The RSI is testing the border of the overbought zone. The Composite begins forming a Bearish divergence with the price.
Key levels
Support levels: 5138.0 (local lows), 5101.0 (local lows), 5045.0 (August lows).
Resistance levels: 5258.0 (July highs), 5266.0 (May lows), 5291.0 (April highs).
Trading tips
The price opened with a gap above its medium-term descending trendline. The growth is likely to continue.
Long positions can be opened from current prices with targets at 5258.0, 5266.0, 5291.0 and stop-loss at 5161.0. Validity – 3-5 days.
Short positions can be opened from the level of 5101.0 with the target at 5045.0 and stop-loss at 5121.0. Validity – 3-5 days.
On the daily chart, the instrument is trading above the upper line of Bollinger Bands. The price remains above its moving averages that start turning up. The RSI is growing having broken out its strong resistance. The Composite is growing as well.
CAC, H4
On the 4-hour chart, the instrument is growing along the upper line of Bollinger Bands. The price remains above its moving averages that start turning up. The RSI is testing the border of the overbought zone. The Composite begins forming a Bearish divergence with the price.
Key levels
Support levels: 5138.0 (local lows), 5101.0 (local lows), 5045.0 (August lows).
Resistance levels: 5258.0 (July highs), 5266.0 (May lows), 5291.0 (April highs).
Trading tips
The price opened with a gap above its medium-term descending trendline. The growth is likely to continue.
Long positions can be opened from current prices with targets at 5258.0, 5266.0, 5291.0 and stop-loss at 5161.0. Validity – 3-5 days.
Short positions can be opened from the level of 5101.0 with the target at 5045.0 and stop-loss at 5121.0. Validity – 3-5 days.
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