CAC40: Still hovering in the tunnel...
The CAC40 rallied today with the US markets re-opening after a long weekend.
It is still hovering in the tunnel it has formed over the past two weeks. The tunnel is located between 4673.96 and 4501. The Triangle figure is still valid since the benchmark has not broken the 4501, which is the figure's cancelling level.
The Benchmark will rally to 4846.92, should it clearly breach the upper side of the tunnel, which is around 4672.93. The triangle figure will be disabled if the 4501 level is breached, which will throw the benchmark to 4400.8.
The benchmark's daily Pivot Point is around 4609.89. The CAC40's daily support levels are around 4563.97, and 4529.69. Its daily resistance levels are around 4644.17, and 4690.09.
Unless the CAC40 cuts through 4575.61, which may lead it to re-test the 4501 level, in normal stances, it should re-test 4675.92.
tradingview.com/x/jM6IbLDm/
It is still hovering in the tunnel it has formed over the past two weeks. The tunnel is located between 4673.96 and 4501. The Triangle figure is still valid since the benchmark has not broken the 4501, which is the figure's cancelling level.
The Benchmark will rally to 4846.92, should it clearly breach the upper side of the tunnel, which is around 4672.93. The triangle figure will be disabled if the 4501 level is breached, which will throw the benchmark to 4400.8.
The benchmark's daily Pivot Point is around 4609.89. The CAC40's daily support levels are around 4563.97, and 4529.69. Its daily resistance levels are around 4644.17, and 4690.09.
Unless the CAC40 cuts through 4575.61, which may lead it to re-test the 4501 level, in normal stances, it should re-test 4675.92.
tradingview.com/x/jM6IbLDm/
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