The CAC40 closed, yesterday, in the green after losing its grip for 3 consecutive sessions, since it has formed a morning star
. The Bearish pattern
induced a bearish
market that has sent the benchmark to visit its EMA20. The benchmark rallied yesterday, breaking out 4660.43, having 4686 as a primary objective, which it was close to achieve. On the upside, the objective remains 4701.32, whereas breaking out 4713.41 will reject the morning star
pattern, and trigger a rally with 4727.63 as a primary objective.
gap, at today's opening, and a breakout of 4651.77, will send the benchmark south to re-visit its EMA20, with 4605 as a primary objective.
The daily Pivot Point
4660.49. The daily support levels are around 4673.24 and 4599.19. The daily resistance levels are around 4698.54 and 4721.79.