The CAC40 rebounded around the 4501 level suggesting the pursuit of the tunnel movement, it has been caught into, since the end of August. The French benchmark will be heading towards 4673.36, the upper border of the tunnel, should it breach its EMA10, which is around 4596.75. Breaking out 4673.36 will lead it up to 4783.38. The primary objective will only be 4622, one day ahead of the FOMC.
Failing to pursue the rebound, will lead it back to the re-testing of the 4501 support level. Breaching 4501 will throw the benchmark in a bearish market with 4387.72 as an objective, and 4430 as a primary objective.
The French Benchmark's daily Pivot Point is around 4554.35. The daily support levels are around 4517.23 and 4465.09. The daily resistance levels are around 4606.49 and 4643.61.
Failing to pursue the rebound, will lead it back to the re-testing of the 4501 support level. Breaching 4501 will throw the benchmark in a bearish market with 4387.72 as an objective, and 4430 as a primary objective.
The French Benchmark's daily Pivot Point is around 4554.35. The daily support levels are around 4517.23 and 4465.09. The daily resistance levels are around 4606.49 and 4643.61.
