CAC: technical analysis
07 September 2018, 11:04
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY STOP |
| Entry Point | 5297.0 |
| Take Profit | 5345.0, 5375.0 |
| Stop Loss | 5260.0 |
| Key Levels | 5110.0, 5165.0, 5240.0, 5297.0, 5345.0, 5375.0 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 5240.0 |
| Take Profit | 5165.0 |
| Stop Loss | 5270.0 |
| Key Levels | 5110.0, 5165.0, 5240.0, 5297.0, 5345.0, 5375.0 |
CAC, D1
On the daily chart, the instrument is trading on the lower line of the Bollinger Bands. The price remains below its moving averages that start turning down. The RSI is testing the border of the oversold zone. The Composite is about to test its strong support.
CAC, H4
On the 4-hour chart, the instrument is trading in the lower Bollinger band. The price remains below its moving averages that are directed down. The RSI is trying to leave the oversold zone, having formed a Bullish divergence with the price. The Composite is showing similar dynamics.
Key levels
Support levels: 5240.0 (July lows), 5165.0 (local lows), 5110.0 (June 2017 lows).
Resistance levels: 5297.0 (local highs), 5345.0 (local highs), 5375.0 (February highs).
Trading tips
The price is testing its strong support near 5240.0. There is a chance of an upward correction.
Long positions can be opened from the level of 5297.0 with targets at 5345.0, 5375.0 and stop-loss at 5260.0. Validity – 3-5 days.
Short positions can be opened from the level of 5240.0 with the target at 5165.0 and stop-loss at 5270.0. Validity – 3-5 days.
On the daily chart, the instrument is trading on the lower line of the Bollinger Bands. The price remains below its moving averages that start turning down. The RSI is testing the border of the oversold zone. The Composite is about to test its strong support.
CAC, H4
On the 4-hour chart, the instrument is trading in the lower Bollinger band. The price remains below its moving averages that are directed down. The RSI is trying to leave the oversold zone, having formed a Bullish divergence with the price. The Composite is showing similar dynamics.
Key levels
Support levels: 5240.0 (July lows), 5165.0 (local lows), 5110.0 (June 2017 lows).
Resistance levels: 5297.0 (local highs), 5345.0 (local highs), 5375.0 (February highs).
Trading tips
The price is testing its strong support near 5240.0. There is a chance of an upward correction.
Long positions can be opened from the level of 5297.0 with targets at 5345.0, 5375.0 and stop-loss at 5260.0. Validity – 3-5 days.
Short positions can be opened from the level of 5240.0 with the target at 5165.0 and stop-loss at 5270.0. Validity – 3-5 days.
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