For some reason, the French CAC 40 index was trading 0.5% stronger on Tuesday, despite other indices losing sharply.

At the time of writing, the CAC index stayed near its cycle highs at around 5,800 EUR.

There are two critical supports found on the chart – the first one should be at previous highs near 5,720 EUR, and as long as the CAC trades above that level, the short-term outlook seems bullish,

Another demand zone is seen at around 5,600 EUR, and the CAC must stay above this support to keep the medium-term outlook bullish.

Alternatively, the active resistance is expected at the current cycle highs of 5,800 EUR, and this level has already been held today. 

If the index jumps above 5,800 EUR, we could see a continuation toward the psychological zone at 6,000 EUR.

Source: https://www.axiory.com/technical-analysis/cac-remains-strong-despite-strong-selling-elsewhere

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Peter Bukov

Peter comes from a background in corporate finance which began in 2013 when he completed the Corporate Finance Program at the University of Economics in Bratislava. He’s been actively involved in the market sector since 2008 and got his hands-on experience in trading in 2011. His experience in finance and trading continues not only as a market analyst at Axiory Intelligence but also through his studies to obtain a degree in Capital Markets. The study is in line with MIFID II regulations and is under the supervision of the European Regulator ESMA, which strongly emphasizes ethics and morale in investing and working with a client.

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