www.varchev.com

CAC: Probable breakthrough of 4372, attention for Long

CAC 40: Upward trend of the index and a deeper correction to the horizontal support. Sold market. The price is in consolidation between 4372-4274. The consolidation allows us to buy in the lower shoulder and sell around 4372, but with mandatory stops because the consolidation could easily become a flag with the potential for reduction of the price or double bottom on 4432.

Whilst the consolidation applies, it is a good idea to trade, a breach over of these levels will signal for a position. Crossing obove 4372 will signal a new long position, while passing under 4274 will signal Short.

The index is in long formation, the correction is deep, the probability of a breach above 4372 is great. The crossing of the price above these levels will activate a “double bottom” of Long.

Varchev Finance



Read more:
RECCOMEND WAS THIS POST USEFUL FOR YOU?
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.
WARNING: Any news, opinions, research, data or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. Varchev Finance Ltd. expressly disclaims any liability for any lost principal or profits which may arise directly or indirectly from the use of or reliance on such information. Varchev Finance Ltd. may provide information, quotes, references and links to or from other sites and blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the sites, blogs or other sources of information.
Varchev Finance