Since the start of the year the French Index rallied more than 15.5% and this past week rose 0.39%.
Last week the CAC40 rose with a narrow range and closed near the high of the week but closed within the previous week range, suggesting a mildly bullish momentum.
The French Index is in a well-established accumulation phase since mid-November and the stochastic is showing bullish momentum and is above the 50 mid line.
Expecting an upward move to a year high at 5235 on a break above the previous week high at 4961 (scenario 1) or a break below previous week low at 4769 may push the Index down to a weekly support at 4518 (scenario 2).
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Thanks for sharing such useful analsyis!
Very interesting! I’ll keep an eye on it.
It’s still testing the support but it will probably break below it.
Informative post.
Very useful post, thank you.
Great analysis.
Thanks for the analysis.
Great post! Thank you!
Good reporting, excellent.