CAC40: Breaking out the channel?
The Cac40 reached 4486.6 breaching the 4501 level it has been testing since the beginning of the month which constitutes the Channel's southern side. The breach may lead it to 4387.72, with 4447.42 as a primary objective.
Only a clear close above 4501, around 4533.2, would suggest a reintegration of the channel.
The French benchmark may find resistance around 4501. The bollinger band suggest low volatility, and a small candle to be formed today.
The benchmark's daily Pivot Point is around 4514.83. The daily support levels are around 4446.74 and 4406.89. The daily resistance levels are around 4554.68 and 4622.77.
Only a clear close above 4501, around 4533.2, would suggest a reintegration of the channel.
The French benchmark may find resistance around 4501. The bollinger band suggest low volatility, and a small candle to be formed today.
The benchmark's daily Pivot Point is around 4514.83. The daily support levels are around 4446.74 and 4406.89. The daily resistance levels are around 4554.68 and 4622.77.
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