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France 40 Index

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FR40 trade ideas

CAC 40 consolidates following December breakFollowing the impulsion at the beginning of december, the index is now consolidating its recent uptrend. Since beginning of December, after exiting a 4 month old canal, the impulsion led the index to multiple new highs. However, if the price kept going higher, the current uptrend is weakened by a divergence since mid december and visible on three main indicators (RSI, Momentum and MACD). It is very much a short term worry though as this doesn't appear on the weekly data of the index. - On a short term point of view, holders can keep their long position although others would wait for a more affordable price. - Mid to long term investors would use the same pivot prices to enter the market or not. For those already long, there is no clear indication to close a long position now and even less to open a short one. - The divergence would be totalled by a break above the recent high at 4929.6. That would be a significant buy signal. - On the contrary, a break below the support at 4822.29 would generate a short term sell signal.
INDEX:CAC40
by gbattini_STA
Watch the CAC 40 for a new bull market France presidency: Francois Hollande decides not to run again Things in Europe changing very fast, obviously: By Monday is a crash expected to come - wich might not occur because to much investors betting on this crash to come. Only few Minutes ago Francoise Hollande said, that he will not run for a second France Presidency. Politics is still an issue in Europe and for the CAC 40 ist this a sign of hope that conditions for the French Ecconomy are getting better after the Election in May 2017. The CAC-40 might jump of this major resist to complete a double bottom reversal pattern in the next couple of trading days.
INDEX:CAC40Long
by SwissView