CAC: technical analysis
14 May 2018, 11:53
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 5533.0 |
| Take Profit | 5470.0, 5435.0, 5375.0 |
| Stop Loss | 5578.0 |
| Key Levels | 5375.0, 5435.0, 5470.0, 5578.0, 5655.0, 5780.0 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 5578.0 |
| Take Profit | 5655.0, 5780.0 |
| Stop Loss | 5535.0 |
| Key Levels | 5375.0, 5435.0, 5470.0, 5578.0, 5655.0, 5780.0 |
CAC, D1
On the daily chart, the instrument is trading in the upper Bollinger band. The price remains above its moving averages that start turning up. The RSI is testing from above the border of the overbought zone. The Composite is breaking down its longer MA, having formed a Bearish divergence with the price.
CAC, H4
On the 4-hour chart, the instrument is trading on the middle MA of the Bollinger Bands. The price remains above its moving averages that are directed up. The RSI is approaching its quite strong support. The Composite is testing from above its longer MA.
Key levels
Support levels: 5470.0 (local lows), 5435.0 (December 2017 highs), 5375.0 (local lows).
Resistance levels: 5578.0 (January highs), 5655.0 (January 2007 highs), 5780.0 (March 2007 highs).
Trading tips
The price is testing from below its previous ascending trendline. There is a chance of a downward rebound.
Short positions can be opened from current prices with targets at 5470.0, 5435.0, 5375.0 and stop-loss at 5578.0. Validity – 3-5 days.
Long positions can be opened form the level of 5578.0 with targets at 5655.0, 5780.0 and stop-loss at 5535.0. Validity – 3-5 days.
On the daily chart, the instrument is trading in the upper Bollinger band. The price remains above its moving averages that start turning up. The RSI is testing from above the border of the overbought zone. The Composite is breaking down its longer MA, having formed a Bearish divergence with the price.
CAC, H4
On the 4-hour chart, the instrument is trading on the middle MA of the Bollinger Bands. The price remains above its moving averages that are directed up. The RSI is approaching its quite strong support. The Composite is testing from above its longer MA.
Key levels
Support levels: 5470.0 (local lows), 5435.0 (December 2017 highs), 5375.0 (local lows).
Resistance levels: 5578.0 (January highs), 5655.0 (January 2007 highs), 5780.0 (March 2007 highs).
Trading tips
The price is testing from below its previous ascending trendline. There is a chance of a downward rebound.
Short positions can be opened from current prices with targets at 5470.0, 5435.0, 5375.0 and stop-loss at 5578.0. Validity – 3-5 days.
Long positions can be opened form the level of 5578.0 with targets at 5655.0, 5780.0 and stop-loss at 5535.0. Validity – 3-5 days.
No comments:
Write comments