CAC: technical analysis

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05/15/2019

CAC, H4

On the H4 chart, the instrument returned to a decline after a short-term correction. The instrument is trading between the center and lower lines of Bollinger Bands; the price range is widened. MACD histogram is in the negative zone keeping a signal for the opening of short positions. Stochastic is on the border with the overbought zone, the signal line is directed upwards.

CAC, D1

D1 chart shows the correction of the downward movement. The instrument is trading near the lower line of Bollinger Bands, the price range is expanded. MACD histogram is in the negative area and gradually increases its volumes. Stochastic is in the neutral zone near the border with the oversold zone, the oscillator lines are reversing upwards.

Key levels

Resistance levels: 5357.0, 5420.2, 5505.4, 5520.1, 5562.2, 5599.1.

Support levels: 5303.3, 5245,5, 5215.0.

Trading tips

Short positions may be opened from 5303.0 with target at 5245.5 and stop loss at 5333.0.

Long positions may be opened from the level of 5357.0 with target at 5420.0. Stop loss — 5326.0.

Implementation time: 1-3 days.

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