Quick Technical Overview - CAC 40 Index: Inside Bar Breakout

CAC 40 price is located to be above 100 SMA/200 SMA for the primary bullish market condition:

• "The index has experienced a fresh round of bullish momentum based on the most recent statements from the ECB suggesting that the central bank may exapand their current QE program."
• "The CAC40 is set with the formation of an inside bar pattern. This formation is indicative of market consolidation, and is created using Fridays candle as a reference for values of support and resistance. Support is identified using Fridays low at a price of 4,822. Resistance is found using Fridays high at a price of reference of 4,950."
• "If prices fail to breakout, it may signal continued consolidation for the CAC40 along with other indices. In this scenario, any breakout of support or resistance may be delayed."

Anyway, the price is on ranging bullish condition with 5267 'bullish' resistance level and 4226 'reversal' support level.