Quick Technical Overview - CAC 40 Index: bullish ranging around R1 Pivot
9 October 2015, 12:11
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Weekly price is on bullish market condition for ranging between Central Pivot at 4210 and R2 Pivot at 5022. The price is breaking R1 Pivot at 4637 from above to below and from below to above for the ranging condition.
- The price is located inside Ichimoku cloud for the ranging market condition.
- Chinkou Span line is below the price and indicating the ranging condition to be continuing.
- The nearest resistance level is R2 Pivot at 5022, and the next level is 5197.
- Absolute Strength indicator is estimating the secondary ranging.
| Instrument | S1 Pivot | Yearly PP | R1 Pivot | R2 Pivot |
|---|---|---|---|---|
| CF |
3825 |
4210 | 4637 | 5022 |
If W1 price will break R2 Pivot resistance level at 20733 on close W1 bar so the primary bullish trend will be continuing with the secondary ranging market condition.
If W1 price will break R2 Pivot at 5022 so the bullish trend will be
continuing with good breakout possibilities in the near future.
If not so the price will be ranging between the levels.
Trend:
