ACTIV8X

CAC40: Will it breakout the tunnel or bounce back?

INDEX:CAC   CAC 40 Index
The CAC40 closed yesterday near the tunnel support level around 4501. The French benchmark has been stuck in the current tunnel, since 3 weeks. If it breaches 4501 it will enter a bearish market with 4387.72 as an objective, and 4430 as a primary objective.

Failing to breakout the tunnel will lead it back towards 4673.96, with 4574.54 as a primary objective.

The benchmark's daily Pivot Point is around 4542.91. The daily support levels are around 4489.08 and 4459.66. The daily resistance levels are around 4572.33 and 4626.16.

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