CAC: technical analysis
12 December 2018, 10:25
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 4844.1 |
| Take Profit | 4725.0, 4605.0 |
| Stop Loss | 4890.0 |
| Key Levels | 4575.0, 4605.0, 4725.0, 4890.0, 4930.0, 5055.0 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 4930.0 |
| Take Profit | 5055.0 |
| Stop Loss | 4875.0 |
| Key Levels | 4575.0, 4605.0, 4725.0, 4890.0, 4930.0, 5055.0 |
CAC, D1
On the daily chart, the instrument is correcting up from the lower line of the Bollinger Bands. The price remains below its moving averages that are directed down. The RSI is about to test from below its longer MA, having left the oversold zone. The Composite is testing its most recent support.
CAC, H4
On the 4-hour chart, the instrument is trading in the upper Bollinger band. The price remains below the EMA65, EMA130 and SMA200 that are directed down. The RSI is growing, having broken out its longer MA. The Composite is testing its strong resistance region.
Key levels
Support levels: 4725.0 (local lows), 4605.0 (April 2016 highs), 4575.0 (October 2016 highs).
Resistance levels: 4890.0 (October lows), 4930.0 (local highs), 5055.0 (local highs).
Trading tips
The price is consolidating below a strong resistance near 4890.0. The fall is likely to continue.
Short positions can be opened from current prices with targets at 4725.0, 4605.0 and stop-loss at 4890.0. Validity – 3-5 days.
Long positions can be opened from the level of 4930.0 with the target at 5055.0 and stop-loss at 4875.0. Validity – 3-5 days.
On the daily chart, the instrument is correcting up from the lower line of the Bollinger Bands. The price remains below its moving averages that are directed down. The RSI is about to test from below its longer MA, having left the oversold zone. The Composite is testing its most recent support.
CAC, H4
On the 4-hour chart, the instrument is trading in the upper Bollinger band. The price remains below the EMA65, EMA130 and SMA200 that are directed down. The RSI is growing, having broken out its longer MA. The Composite is testing its strong resistance region.
Key levels
Support levels: 4725.0 (local lows), 4605.0 (April 2016 highs), 4575.0 (October 2016 highs).
Resistance levels: 4890.0 (October lows), 4930.0 (local highs), 5055.0 (local highs).
Trading tips
The price is consolidating below a strong resistance near 4890.0. The fall is likely to continue.
Short positions can be opened from current prices with targets at 4725.0, 4605.0 and stop-loss at 4890.0. Validity – 3-5 days.
Long positions can be opened from the level of 4930.0 with the target at 5055.0 and stop-loss at 4875.0. Validity – 3-5 days.
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