The index has been in a strong uptrend since past few months however it has experienced some correction since early January, currently it stands at the support of the horizontal support line suggesting buying could be experienced near current levels. On 21st December the index had made a very significant “hammer” formation just below current levels. It would be prudent to say that the CAC-40 could rebound towards 5520 and 5600 if it sustains above 5350.
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Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
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Penafian
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