Technical Analysis of CAC 40 Index – 20 September 2022

Technical Analysis of CAC 40 Index – 20 September 2022

CAC 40 Technical Analysis

CAC 40 Index Technical Analysis: Weekly Chart

CAC 40 Index Technical Analysis

In the weekly charts, CAC 40 is trading in a down channel. CAC 40 is currently trading below all SMA.

RSI is in the selling zone which indicates bearishness. MACD is currently below zero which indicates bearishness.

Its immediate support is 6000.00 the resistance level is at 6150.00

CAC 40 will trade in a down channel until there is a trend reversal. 

CAC 40 Index Technical Analysis: Daily Chart

CAC 40 Index Technical Analysis

In the daily charts, CAC 40 was trading in a down channel. CAC 40 is currently trading below all SMA.

RSI is in the selling zone which indicates bearishness. MACD is currently below zero which indicates bearishness.

Its immediate support is 6000.00 the resistance level is at 6145.00

CAC 40 was traded in a down channel before there is a breakout upside.   

How to Trade CAC 40 this Week:

CAC 40 will follow the downtrend until its trend reversal. So, remain bearish on CAC 40.

TRADE SUGGESTION- SELL AT 6095.00, TAKE PROFIT AT 6000.00 AND STOP LOSS AT 6180.00

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