CAC40 : Will we soon have a new test of the downtrend channel ?

The CAC40 is still stuck under the threshold of the 5150, but found support above the 5100.

Indeed, the rebound from the area of the 5080 was blocked yesterday on the resistance of the 5150, but without falling back heavily.

The stock market index of Paris has found support above the 5100, and therefore remains in the race for a new test of 5150.

A break here remains needed, but could be enough to trigger a new test of the terminal high of the channel of the CAC40 to the 5170/75. You will also find in this zone the moving average of 200 in H4 to 5182 currently.

A break of the channel could then initiate a rebound in the short term more significant, with a possible return to the recent highs.

The first support comes in at 5120, prior to the 5100 and 5080. Below, we could find the recent further down towards 5050, before you potentially continue the bearish correction towards 5000.

The CAC40 is currently evolving to 5129 on the Paris stock exchange.

Chart CAC40 H4

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