The CAC40 ended, yesterday, a bullish
market after a long bearish
streak, which has sent it back seeking 4936.87, a critical level, which breaking out will send it seeking higher highs around 5004. The CAC40 bounced on its Orange trend line
, proving that the main trend remains bullish
, unless the Orange trend line
Breaking out the Orange trend line
will set a new Pace for the French index, as the trend will become bearish
and the main bearish
objective will be 4783.38 and 4750.97, on the short run.
The daily Pivot Point
is around 4852.76. The daily support levels are around 4798.96 and 4767.71. The daily resistance levels are around 4884.01 and 4937.81.