The CAC40 is trying to bounce today, but the index is still a lack of conviction.
After a start of the week down, where the cac 40 fell to a intraday low at 5065 yesterday, the index paris tries to rebound today.
However, the movement remains blocked for the time under the peak of Friday to 5130.
To the above we may resume the increase in in the direction of the 5150, before the lower bound of the channel and the moving average 200 in H4 to 5186.
A break above, followed by a confirmation above the resistance of 5200 could then cause a bullish reversal more significant in the short term.
Has the downside, a break under the 5082 is still necessary to revive the fall in the direction of the 5050 in the first time, and then to the 5000 below.
More generally, the phase correction in the channel continues, and we expect a break upward to aim the 5260, 5330, and 5370 in the short term.
A return to the recent highs to 5477 and the area of the 5500 will also be possible on an output of the current bearish channel.
The cac 40 is currently trading at 5126 on the Paris stock exchange.
Chart CAC40 H4