CAC40 INTRADAY Bullish sideways consolidation The CAC 40 Equity Index remains in a prevailing uptrend, with recent intraday price action indicating a corrective pullback toward a key support level.
Key Levels to Watch:
Support Levels: 7967 (critical level), 7893, 7778
Resistance Levels: 8160, 8270, 8344
Bullish Scenario:
A bullish bounce from the 7967 support level, previously a resistance zone, could trigger renewed buying momentum. If confirmed, the next upside targets are set at 8160, 8270, and 8344 over a longer timeframe.
Bearish Scenario:
A daily close below 7967 would weaken the bullish outlook, potentially leading to a further retracement toward 7893, with an extended decline targeting 7778.
Conclusion:
The overall market sentiment remains bullish, but the 7967 level is a pivotal support zone. A successful retest and rebound from this level could drive the next leg higher, whereas a confirmed breakdown would shift the outlook to bearish, favoring deeper corrections. Traders should monitor price action closely around these levels for confirmation.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
