Trade Alert
The index is still within a rising channel formation, but CAC40 is currently testing its key support at around 5265 level. A drop below it may invite more sellers into the game and we may see the price sliding lower. This is when we will aim for a possible re-test of the lower bound of the rising channel.
But we will consider this idea ONLY if we see a clear break below the 5265 hurdle.
Please see the chart for levels.
Don't forget your stop-loss.
The index is still within a rising channel formation, but CAC40 is currently testing its key support at around 5265 level. A drop below it may invite more sellers into the game and we may see the price sliding lower. This is when we will aim for a possible re-test of the lower bound of the rising channel.
But we will consider this idea ONLY if we see a clear break below the 5265 hurdle.
Please see the chart for levels.
Don't forget your stop-loss.