ACTIV8X
Long

The French benchmark is all fueled up!

INDEX:CAC   CAC 40 Index
The French benchmark managed to close the gap formed on the opening of the 1st of September, which was threatening to throw the benchmark into the bearish market, after a fresh bullish market started to settle down.
Headwinds from China as well as today's US jobs report will be decisive for the benchmark.
It is currently hovering in a triangle shaped figure, suggesting 4859 as an objective, should a breakthrough occurs. The figure can be canceled if the benchmark cuts through 4501.
The daily Pivot Point is around 4645.35, and it 3 days PP is around 4551.39. If the benchmark opens below the daily PP its daily trend will be bearish , If it opens above the daily PP, the trend will be bullish .Its daily support levels are 4598.41, 4543.03 and 4503.2. Its daily resistance levels are 4700.73 and 4747.67.
If the benchmark opens below 4601.75, we should be considering going back to the bearish market.
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