CAC40: A shooting star around 4673.96!
The CAC40 continued rallying, yesterday, but failed to close in the green, ending the session with a shooting star pattern, which is usually a bearish sign.
A bearish gap at the opening, and a breakout of 4654.28, will induce a bearish movement towards 4581.91, with 4620.14 as a primary objective.
A bullish gap, will reject the bearish pattern, especially if 4730.30 was breached. In this case, the benchmark will resume its rally, with 4783.38 as an objective.
The daily Pivot Point is around 4683.97. The daily support level is around 4637.64 and 4607.95. The daily resistance levels are around 4713.66 and 4759.99.
A bearish gap at the opening, and a breakout of 4654.28, will induce a bearish movement towards 4581.91, with 4620.14 as a primary objective.
A bullish gap, will reject the bearish pattern, especially if 4730.30 was breached. In this case, the benchmark will resume its rally, with 4783.38 as an objective.
The daily Pivot Point is around 4683.97. The daily support level is around 4637.64 and 4607.95. The daily resistance levels are around 4713.66 and 4759.99.
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