CAC40 - 240 - Wait for a confirmation break first

Trade Alert

CAC40 is ver close to key support area at around 5200. In order to examine lower areas in the short run, we would like to see a break below the 5200 before we get comfortable with the downside.
That said, don't forget that the index is still within a rising channel formation, seen on a bigger picture, hence why the potential downside move could be seen as a correction.

If the price travels back above the 5240 level, this is when we target slightly higher levels again.

Please see the chart for details.

Always have your stop-loss in place.