CAC: technical analysis
09 April 2018, 11:43
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL LIMIT |
| Entry Point | 5310.0 |
| Take Profit | 5200.0, 5160.0 |
| Stop Loss | 5375.0 |
| Key Levels | 5100.0, 5160.0, 5200.0, 5310.0, 5375.0, 5430.0 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 5375.0 |
| Take Profit | 5430.0 |
| Stop Loss | 5335.0 |
| Key Levels | 5100.0, 5160.0, 5200.0, 5310.0, 5375.0, 5430.0 |
CAC, D1
On the daily chart, the instrument is trading in the upper Bollinger band. The price remains on the level with the EMA65, EMA130 and SMA200 that are horizontal. The RSI is growing, having broken out its longer MA. The Composite is about to test its strong resistance.
CAC, H4
On the 4-hour chart, the instrument is trading in the upper Bollinger band. The price remains above its moving averages that are turning up. The RSI keeps forming a Bearish divergence just below the border of the overbought zone. The Composite is about to test from below its longer MA.
Key levels
Support levels: 5200.0 (local lows), 5160.0 (local lows), 5100.0 (local lows).
Resistance levels: 5310.0 (local highs), 5375.0 (local highs), 5430.0 (December 2017 highs).
Trading tips
There is a chance of a downward reverse.
Pending sell orders can be placed at the level of 5310.0 with targets at 5200.0, 5160.0 and stop-loss at 5375.0.
Long positions can be opened from the level of 5375.0 with the target at 5430.0 and stop-loss at 5335.0.
On the daily chart, the instrument is trading in the upper Bollinger band. The price remains on the level with the EMA65, EMA130 and SMA200 that are horizontal. The RSI is growing, having broken out its longer MA. The Composite is about to test its strong resistance.
CAC, H4
On the 4-hour chart, the instrument is trading in the upper Bollinger band. The price remains above its moving averages that are turning up. The RSI keeps forming a Bearish divergence just below the border of the overbought zone. The Composite is about to test from below its longer MA.
Key levels
Support levels: 5200.0 (local lows), 5160.0 (local lows), 5100.0 (local lows).
Resistance levels: 5310.0 (local highs), 5375.0 (local highs), 5430.0 (December 2017 highs).
Trading tips
There is a chance of a downward reverse.
Pending sell orders can be placed at the level of 5310.0 with targets at 5200.0, 5160.0 and stop-loss at 5375.0.
Long positions can be opened from the level of 5375.0 with the target at 5430.0 and stop-loss at 5335.0.
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