CAC: technical analysis
11 January 2019, 10:13
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL STOP |
| Entry Point | 4740.0 |
| Take Profit | 4645.0, 4600.0 |
| Stop Loss | 4800.0 |
| Key Levels | 4600.0, 4645.0, 4740.0, 4845.0, 4895.0, 5035.0 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 4895.0 |
| Take Profit | 5035.0 |
| Stop Loss | 4845.0 |
| Key Levels | 4600.0, 4645.0, 4740.0, 4845.0, 4895.0, 5035.0 |
CAC, D1
On the daily 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 testing its recent resistance. The Composite is about to test its strong resistance as well.
CAC, H4
On the 4-hour chart, the instrument is trading in the upper Bollinger band. The price remains on the level with the EMA130 and slightly below the SMA200, which is directed down. The RSI is approaching the border of the overbought zone. The Composite is testing from below its longer MA.
Key levels
Support levels: 4740.0 (local lows), 4645.0 (local lows), 4600.0 (local lows).
Resistance levels: 4845.0 (local highs), 4895.0 (November 2018 lows), 5035.0 (local highs).
Trading tips
The price is about to test its medium-term descending trendline. There is a chance of a downward reverse.
Short positions can be opened from the level of 4740.0 with targets at 4645.0, 4600.0 and stop-loss at 4800.0. Validity – 3-5 days.
Long positions can be opened from the level of 4895.0 with the target at 5035.0 and stop-loss at 4845.0. Validity – 3-5 days.
On the daily 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 testing its recent resistance. The Composite is about to test its strong resistance as well.
CAC, H4
On the 4-hour chart, the instrument is trading in the upper Bollinger band. The price remains on the level with the EMA130 and slightly below the SMA200, which is directed down. The RSI is approaching the border of the overbought zone. The Composite is testing from below its longer MA.
Key levels
Support levels: 4740.0 (local lows), 4645.0 (local lows), 4600.0 (local lows).
Resistance levels: 4845.0 (local highs), 4895.0 (November 2018 lows), 5035.0 (local highs).
Trading tips
The price is about to test its medium-term descending trendline. There is a chance of a downward reverse.
Short positions can be opened from the level of 4740.0 with targets at 4645.0, 4600.0 and stop-loss at 4800.0. Validity – 3-5 days.
Long positions can be opened from the level of 4895.0 with the target at 5035.0 and stop-loss at 4845.0. Validity – 3-5 days.
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