CAC40 Bullish consolidation breakout The CAC40 price action sentiment appears Bullish, supported by the current rising trend. The recent intraday price action appears to be a consolidation breakout.
The key trading level is at the 7770 level, the previous consolidation price range. A corrective pullback from current levels and a bullish bounce back from the 7770 level could target the upside resistance at 7940, followed by the 7970 and 8000 levels over the longer timeframe.
Alternatively, a confirmed loss of the 7770 support and a daily close below that level would negate the bullish outlook, opening the way for a further retracement and a retest of the 7740 support level, followed by the 7700 levels.
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