vlad.adrian
Short

France - Divergence analysis points to a market top

FX:FRA40   CAC 40 Index
177 0 5
This is the third market where I see signs of a top. I still hold a bearish bias on Austrlia and England from their weekly charts (both are posted here on TV). As I said on the chart, it's important to understand that these are not separate trades, they all go together. Either they all work, or they fail. Holding a short in France and Europe is the same thing, it's just a matter of prefference.

Looking back only a few months, there are divergences that worked well, so we can expect the latest to do the same. There is both a histogram divergence and a MACD lines divergence. If the day closes like this, under 4428, the false breakout will be confirmed. Even if it doesn't, I still hold by bearish bias. We should watch for a bounce from the first support, and look for the posibility of a double top , but as long as we don't have a close over 4500 the short stands. Major support is at 4000 - 4200 area and that is the target for a serious correction
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out