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CAC 40 :in a Tunnel state of mind...

INDEX:CAC   CAC 40 Index
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The CAC40 is still in the tunnel, it closed yesterday while hanging on it Orange trend line. The french benchmark still has not invalidated the Triangle. To cancel this figure it should cut through 4501. The benchmark is following the classic Tunnel figure movement, which suggests it is targeting 4501.

The patterns suggest a bearish trend with 4501 as a primary objective. Crossing 4646 may induce a trend inversion with a tunnel breakthrough opportunity, 4673.96 will be the primary objective. Cutting through 4501 will cancel the triangle and suggest 4393 as the tunnel figure's objective.

The daily Pivot Point is around 4615.55. The benchmark's daily support levels are around 4565.27 and 4534.01. The daily resistance levels are around 4646.81 and 4697.09.
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