F40 neutral

Where will be the CAC 40 bounce?

02 march 2022 115
Volkov_Anton
Volkov_Anton

Listed among the best MarketCheese authors
1st in the segment "Currencies"
2nd in the segments "Indices" and "Metals"
3rd in the segment "US stocks"
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The CAC 40 Index jointly with other European markets is under intense pressure in recent weeks. The fighting in the Eastern Europe does not contribute to buying risky assets and now the investor sentiment is further from positive.


The last daily candlestick updated the September minimum at 6390. Then, the benchmark for sellers is moving to the summer minimum of the past year at 6250.


The RSI approached the oversold zone though the reversal was not materialized so far. In case of an upward bounce, the target will be the level of 6600 and the downtrend line from 10 February.

Volkov_Anton
Volkov_Anton

Listed among the best MarketCheese authors
1st in the segment "Currencies"
2nd in the segments "Indices" and "Metals"
3rd in the segment "US stocks"
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