CAC40 capped by resistance at 7,900The CAC40 index is exhibiting bearish sentiment, aligning with the prevailing downtrend. The recent price action suggests an oversold bounce, which may be temporary before the downtrend resumes.
Key Level: 7,900
This level represents the previous intraday consolidation zone and serves as a crucial resistance point.
Bearish Scenario: If the index faces rejection at 7,900, it could resume its decline, targeting 7,728, followed by 7,680 and 7,552 as long-term support levels.
Bullish Scenario: A confirmed breakout above 7,900 with a daily close beyond this level would invalidate the bearish outlook, potentially leading to rallies toward 7,980 and 8,060.
Conclusion:
The CAC40 remains in a bearish trend unless a strong breakout above 7,900 confirms a shift in momentum. Traders should watch for rejection or confirmation at this key level to determine the next move.
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