Will CAC 40 See a Bullish Turn? Key Levels to Watch next

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The CAC 40, the benchmark French index, continues to trade around 7,496 during Friday's London session. Currently, the price is retesting a previous demand area, sparking interest in a potential bullish reversal pattern. I’m closely monitoring lower timeframes and daily charts for confirmation of a possible long position.

Market dynamics show retail traders are predominantly short, while smart money has shifted to long positions, signaling potential upward momentum. Additionally, the forecast indicator suggests a possible bullish seasonality for the index. However, it’s crucial to wait for a confirmed bullish reversal before entering any trades.

Patience remains key, and the next few days will be critical in determining the direction of the CAC 40. Stay tuned for potential entry opportunities as the index tests this significant demand zone.

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